Vardhman Textiles to raise Rs 500 cr through NCDs

Vardhman Textiles will raise around Rs 500 crore through issuance of non-convertible debentures on private placement basis.
The company informed bourses that a committee of the firm "has approved to issue 4,998 secured redeemable non- convertible debentures of Rs 10,00,000 each", aggregating to Rs 499.8 crore on private placement basis.
However, the company did not elaborate on end use of funds.
Shares of Vardhman Textiles closed 1.26 per cent higher at Rs 1,180 apiece on BSE today.