The board of Sammaan Capital Ltd. passed an enabling resolution for raising funds through the issuance of nonconvertible debentures or "bonds not in the nature of equity shares," up to Rs 30,000 crore in one or more tranches on a private placement basis.
The fund raising period starts from the date of receipt of shareholders' authorisation in the ensuing annual general meeting until the completion of one year. The size, tenure, coupon, security (if applicable) and other details as applicable will be decided at the time of issue of each tranche or series.
Shares of Sammaan Capital Ltd. closed 0.89% lower at Rs 162.80 apiece on the NSE, compared to a 0.40% advance in the NSE Nifty 50.
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