Reliance Power board meet on June 13 to consider fund raising
The Board approved seeking approval of the members of the Company for the above proposal through Postal Ballot.
UltraTech Cement on Tuesday announced that it has raised Rs 1,000 crore by issuing non-convertible debentures (NCDs) on private placement basis.
On December 26, the company in a regulatory filing had said it is considering a “proposal to raise funds by issuance of 10,000 rated, listed, non-convertible, redeemable, unsecured NCDs of Rs 10,00,000 each aggregating to Rs 1,000 crores, on private placement basis, including the terms and conditions of the issue, on or after 30th December, 2020.”
Earlier in May 2020, the Board of Directors of the company had approved the raising of funds, by way of issuance of NCDs, foreign currency loan or rupee term loan, or in any other manner, in one or more tranches.
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The company has “approved the allotment of unsecured redeemable non-convertible debentures (NCDs) amounting to Rs 1,000 crore on private placement basis,” UltraTech said in a regulatory filing on Tuesday.
These NCDs have a coupon rate of 4.57 per cent per annum and will be listed on National Stock Exchange of India. Tenure of the NCDs is two years 358 days, the company added.
Shares of UltraTech Cement were trading 0.33 per cent lower at Rs 5,309.00 apiece on BSE forms its previous close.
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