Power utility firm CESC Ltd will raise Rs 200 crore by issuing 20,000 Non-Convertible Debentures (NCDs) to Axis Bank on a private placement basis.
The company's board, at its meeting on Wednesday, approved the issue of the secured, unlisted, redeemable, rated NCDs, according to a regulatory filing.
In the first tranche, 20,000 NCDs worth Rs 200 crore will be issued and in the second tranche these securities worth Rs 100 crore will be issued.
The NCDs, each having a face value of Rs 1,00,000, will be issued on a private placement basis to Axis Bank, as per the filing.
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