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Godrej Industries raises Rs 750 crore through non-convertible debentures

Godrej Industries Ltd on Tuesday said it has raised Rs 750 crore through private placement of non-convertible debentures.

Godrej Industries | NCDs | non-convertible debentures

Press Trust of India  |  New Delhi 

Godrej Industries
Godrej Industries

Ltd on Tuesday said it has raised Rs 750 crore through private placement of

The management committee of the board of directors of the company has on September 28 approved the allotment of 7,500 rated, listed, unsecured, redeemable, having face value of Rs 10 lakh aggregating to Rs 750 Crore to an identified investor, Ltd said in a regulatory filing.

The company, which is a holding company of the Godrej Group, however, did not disclose the identity of the investor.

The proceeds of the issue are proposed to be used for business purposes, investments, repayment or prepayment of certain loans and for general corporate purposes, it added.

The NCDs, which will be listed on the National Stock Exchange of India, will have a tenure of 7 years with a redemption date slated for September 28, 2028, it added.

Carrying a coupon rate of 7.58 per cent per annum, payable annually, the will be redeemed at redemption price of Rs 10 lakh per NCD, the company said.

(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: Tue, September 28 2021. 23:44 IST