Gabriel India Ltd. shares fell as much as 2.6% on Monday after the company approved plans to raise up to Rs 1,000 crore through redeemable, non-convertible debentures.
The stock traded at Rs 1,383.8 apiece on the NSE at around 11:55 a.m., compared with its previous close of Rs 1,420.6.
The board approved the proposed borrowing at its meeting on Monday. Investors are now assessing the impact of the debt raise on the company's balance sheet and future funding requirements. The company did not disclose how it plans to use the proceeds.
Debt Raise
Gabriel India plans to raise the funds through senior, unsecured, rated, listed and redeemable non-convertible debentures, according to its stock exchange filing.
The company will issue the debentures through a private placement to eligible investors. The proposed issue comprises up to 1 lakh debentures with a face value of Rs 1 lakh each, taking the total proposed fund raise to Rs 1,000 crore.
The securities are proposed to be listed on the BSE.
The company said details such as the tenure, maturity date, coupon or interest rate, and payment schedule will be specified later in the key information document.
Finance Committee
The board also approved the formation of a Finance Committee and delegated powers to it for matters related to the proposed issuance of the debentures.
Gabriel India did not disclose the specific purpose for which it intends to use the funds in its stock exchange filing.
Stock Movement
Gabriel India shares have gained more than 33.6% so far in calendar year 2026, though the stock remains down about 4% over the past week, including Monday's decline.
The company is currently valued at a market capitalisation of Rs 24,581.8 crore and trades at a price-to-earnings multiple of 84.4 times.
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