The NCDs, listed on the BSE, will have a tenure of three years, the company said in a statement.
Kirloskar Oil Engines share price was up a percent at open on June 24 after Arka Fincap Limited, a wholly-owned subsidiary of Kirloskar Oil Engines and a part of Kirloskar Group raised Rs 105 crore via Non-Convertible Debentures (NCDs) on a private placement basis.
The stock price has gained 41 percent in the last 3 months and was trading at Rs 116.20, up Rs 1.35, or 1.18 percent.
Kirloskar Oil Engines arm, earlier known as Kirloskar Capital, has issued 1,050 secured and redeemable non-convertible debentures aggregating to Rs 105 crore through a private placement. The NCDs, listed on the BSE, will have a tenure of three years, the company said in a statement.
The diversified Kirloskar group entered the non-banking finance space in 2019 launching Kirloskar Capital under the leadership of veteran banker Vimal Bhandari. Later, name of the company was changed to Arka Fincap.
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First Published on Jun 24, 2020 09:32 am
