UltraTech Cement Raises Rs 1,000 Cr Via NCDs
UltraTech Cement on January 5 approved the allotment of Unsecured Redeemable Non-Convertible Debentures (NCDs) amounting to Rs 1,000 crore on private placement basis, the company informed in a BSE filing. Tenure of the NCDs is two years 358 days. These NCDs have a coupon rate of 4.57 per cent per annum and will be listed on National Stock Exchange of India. In December, company had said that it is considering a proposal to raise funds by issuance of 10,000 rated, listed, non-convertible, redeemable, unsecured NCDs of Rs. 10,00,000/- each aggregating to Rs 1,000 crore (rupees one thousand crores only), on private placement basis. The company had recently announced Rs. 5,477 crore of investment on a mix of greenfield and brownfield capacity expansion of 12.8 million tonne per annum. This expansion includes the existing approval for the cement plant at Pali in Rajasthan, in addition to the company’s 6.7 mtpa capacity expansion currently underway in Uttar Pradesh, Odisha, Bihar and West Bengal, which has picked up pace.
Tags : ALLIED UltraTech Cement