Commercial vehicles manufacturer Ashok Leyland Ltd. has decided to raise up to ₹200 crore by issue of redeemable, non-convertible debentures (NCDs) on a private placement basis.
A decision to this effect was approved by the fund raising committee in its meeting on Friday. The amount will be raised in one or more tranches by issuance of NCDs to ‘certain eligible investors’.
The instrument would be listed on the NSE with a tenure of three years from the date of allotment and would carry an interest of 7.65% per annum, the company said in a regulatory filing.
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