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CG Consumer to raise Rs 300 crore via NCDs

Business Finance

Press Trust of India  |  New Delhi 

Crompton Greaves Consumer Electricals Ltd on Wednesday said it will raise Rs 300 crore by issuing non-convertible debenture on private placement basis.

The Committee of Debentures of the company on Wednesday approved the proposal to issue 3,000 non-convertible debenture (NCDs) of Rs 10 lakh each.

"The Committee of Debentures vide their resolution dated May 20, 2020 have inter alia, approved the pricing, tenure and other terms and conditions for issuance of 3,000 listed, secured, rated, redeemable, non-convertible debenture (NCDs) of Rs 10,00,000/- aggregating to Rs 300 crore each on Private Placement basis," the company said in a BSE filing.

NCDs will be for three years from the deemed date of allotment, which is May 28, 2020 and will be listed on the NSE.

Shares of Crompton Greaves Consumer Electricals Ltd on Wednesday closed at Rs 210.75, up 4.25 per cent from previous close.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, May 20 2020. 20:57 IST