- Godrej Industries plans to raise Rs 750 crore via private placement of NCDs
- The company will issue 75,000 unsecured, redeemable NCDs with Rs 1 lakh face value
- The Board approved the Key Information Document for the issue on September 11
Godrej Industries Ltd. plans to raise up to Rs 750 crore through a private placement of non-convertible debentures (NCDs), according to an exchange filing on Friday.
The company will issue up to 75,000 rated, listed, unsecured and redeemable NCDs, each carrying a face value of Rs 1 lakh, aggregating to Rs 750 crore.
The Management Committee of the Board of Directors approved the Key Information Document (KID) for the proposed issue on September 11, the company said in the filing.
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The debentures will be issued on a private placement basis and will be listed. The company did not disclose the coupon rate, tenure or other pricing details in the exchange intimation.
The proposed fundraise follows approvals and authorisations received earlier. Godrej Industries had informed the stock exchanges about the board meeting in May and subsequently disclosed the board meeting outcome. Shareholders also approved the relevant resolutions at the company's 38th Annual General Meeting held in August.
Godrej Industries said the issue is being undertaken in accordance with applicable provisions of the Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021.
The company has requested the BSE and NSE to take the disclosure on record.
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