Jagran Prakashan board approves raising up to Rs 300 cr via NCDs

Jagran Prakashan Ltd (JPL), the publisher of leading Hindi daily Dainik Jagran, Thursday said its board has approved raising up to Rs 300 crore through issuance of non convertible debentures (NCDs).

"The board of directors at their meeting.... considered and approved the issue of secured NCDs up to Rs 300 crore, and authorised a debenture committee to do all such necessary formalities in this regard," Jagran Prakashan said in a BSE filing.

The NCDs are proposed to be listed on Wholesale Debt Market segment of BSE or NSE.

Shares of the company were trading 1.17 per cent lower at Rs 114.35 apiece on BSE.