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Ind-Swift Labs raises Rs 424.5 cr via NCDs

Press Trust of India  |  New Delhi 

Drug firm today said it has raised Rs 424.5 crore through allotment of redeemable non-convertible debentures to two investors.

The company has allotted 4,245 debentures to and ECL Ltd, said in a BSE filing.

"...the Board of Directors in their meeting held today approved inter-alia among other items, the allotment of 4,245 10% secured rated listed redeemable non-convertible debentures of face value of Rs 10,00,000- each to the investors whose bids are accepted through EBP mechanism...," it added.

The tenure of allotment is 6 years, said.

The company, however, did not mention what it proposed to do with the amount being raised.

Shares of Ind-Swift Laboratories were today trading at Rs 82.80 per scrip in the afternoon trade on BSE, up 4.94 per cent from its previous close.

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

First Published: Wed, June 13 2018. 15:10 IST
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