New Delhi: Aditya Birla Group flagship firm
Grasim Industries on Wednesday said it has raised Rs 500 crore through private placement of non-convertible
debentures.
The members of the stakeholders' relationship committee of the board approved and allotted 5,000, fully-paid unsecured redeemable non-convertible debentures (
NCDs) of Rs 10 lakh each on private placement basis, Grasim Industries said in a regulatory filing.
The tenure of the instrument is three years from the deemed date of allotment of June 17, 2020 with coupon rate fixed at 5.9 per cent, it added.
In case of default in payment of interest and/or redemption amount on due dates, additional interest at the rate of 2 per cent per annum over and above the coupon rate will be payable by the issuer for the period of default, the filing said.