Great Eastern Shipping Company today announced that the debenture issue committee has approved raising up to Rs 150 crore via issuance of non- convertible debentures on private placement basis.
"The debenture issue committee at its meeting held today has approved the issue of 1,500 unsecured non-convertible debentures of Rs 10 lakh each aggregating to Rs 150 crore by way of private placement," Great Eastern Shipping said in a BSE filing.
Tenure of the NCDs will be 10 years and will carry coupon/interest rate of 8.25 per cent per annum.
The company has two main businesses --shipping and offshore.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)