Grasim Industries Ltd. approved on Monday the issue of non-convertible debentures worth Rs 1,000 crore on a private placement basis, according to an exchange filing.
In a meeting, the board of directors' finance committee approved the issuance of fully paid, unsecured, listed, rated, redeemable, rupee denominated, non-convertible debentures of Rs 1 lakh per debenture in one or more tranches, it said.
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A non-convertible debenture is a fixed-income instrument that provides structured returns to investors. As NCDs are unsecured and not backed by assets, the market participants evaluate the issuing company's creditworthy and debt-servicing capacity before allotment.
The Aditya Birla Group company reported a higher-than-projected net loss in the fourth quarter of the financial year 2025, even as it managed to narrow the amount.
Standalone net loss stood at Rs 288 crore in the January-March quarter, compared to a loss of Rs 441 crore in the corresponding period last year,
Shares of Grasim Industries' closed 1.04% lower at Rs 2,524.10 apiece on the NSE, compared to a 0.14% fall in the benchmark Nifty. The stock had risen 6.56% in the last 12 months and 3.33% on a year-to-date basis.
Out of nine analysts tracking the company, six have a 'buy' rating on the stock, two recommend 'hold' and one suggests 'sell', according to Bloomberg data. The average of 12-month analysts' price target implies a potential upside of 22.3%.
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