Zuari Agro Chemicals Wednesday said it will issue compulsory convertible debentures (CCDs) worth Rs 405 crore.
The CCDs will be issued to the company's shareholders at the rate of Rs 120 apiece. In total, 3.36 crore CCDs will be issues, the company said in a regulatory filing.
A decision in this regard was taken in the Right Issue Committee meeting, it added.
Zuari Agro Chemicals said CCDs will issue in the ratio of 4:5, which means 4 CCDs will be issued for every five equity shares held by eligible shareholders of the company as on the record date.
The conversion price of each CCD has been fixed at Rs 10 per share.
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