Godrej Industries advanced 2.73% to Rs 1,028.20 after its board approved the allotment of 1,00,000 non-convertible debentures (NCDs) aggregating to Rs 1,000 crore on a private placement basis.
The terms of the series 1 debenture, which are rated, listed, unsecured, redeemable, and non-convertible, include a face value of Rs 1 lakh each, aggregating to Rs 500 crore, with a tenor of 3 years and 6 months. These NCDs have a fixed coupon rate of 8.10%.The terms of the Series 2 debentures, which are rated, listed, unsecured, redeemable, and non-convertible, include a face value of Rs 1 lakh each, aggregating to Rs 500 crore, with a term of 5 years. These NCDs have a fixed coupon rate of 8.15%.
Both these debentures will be listed on the National Stock Exchange of India (NSE).
Godrej Industries, a Godrej Group Company, is a conglomerate with a significant presence in home and personal care, animal feeds, dairy and agri-products, poultry, oil palm plantations, and real estate.
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