The board of directors of Shree Cements Limited on Monday approved the issuance of secured, rated, redeemable, taxable, non-convertible debentures worth Rs 700 crore, the company announced through an exchange filing.
The NCDs will have a base size of Rs 350 crore with an option to retain oversubscription up to Rs 350 crore, taking the total issue size up to Rs 700 crore on private placement basis to certain eligible investors to invest in the NCDs.
The NCDs will be listed on the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited. It will have a face value of Rs. 1,00,000 each for cash at Par.
The interest on the NCDs will be payable on an annual basis and on redemption which is on 26/10/2030.
Shree Cements shares
The shares of Shree Cements Limited on Monday morning at 10:35 am IST were trading at Rs 25,848.50, down by 0.35 per cent.
