CESC board allots NCDs worth 300-cr to Axis Bank

CESC announced that the board in its meeting held today has approved the allotment of non-convertible debentures (NCDs) aggregating to Rs 300 crore to Axis Bank.

The company has allotted 3,000 secured, unlisted, redeemable, rated NCDs having a face value of Rs 10 lakh each aggregating to Rs 300 crore.

The allotment was done on a private placement basis.

CESC is a fully-integrated electrical utility company. The company's other business segments include power, organized retailing, property development and business process outsourcing.

The company's consolidated net profit declined 9% to Rs 305 crore despite of 12% rise in net sales to Rs 3,913 crore in Q2 FY23 as compared with Q2 FY22.

 

The scrip rose 0.13% to currently trade at Rs 74.65 on the BSE.

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