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Britannia Industries to raise Rs 698.51 crore via bonus debentures

Britannia Industries on Thursday said its board has approved a proposal to raise Rs 698.51 crore by issuing bonus debentures to eligible equity shareholders.

Topics
Britannia Industries | Markets | fund raising

Press Trust of India  |  New Delhi 

britannia

on Thursday said its board has approved a proposal to raise Rs 698.51 crore by issuing bonus debentures to eligible equity shareholders.

"The bonus debenture committee of the board of directors of the company ... approved the allotment of unsecured, non-convertible, redeemable, fully paid up debentures having a face value of Rs 29 each.. to the members holding equity shares as on May 27, 2021," said in a regulatory filing.

The company said the size of the issue is Rs 698.51 crore and the bonus debentures are proposed to be listed on BSE Ltd and National Stock Exchange of India Ltd (NSE).

As per Britannia Industries, the bonus debentures will be redeemed after three years from the date of allotment.

Shares of were trading 0.58 per cent higher at Rs 3,494.95 apiece on BSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Thu, June 03 2021. 15:53 IST
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