Sadbhav Infrastructure Project gained 3.23% to Rs 20.80 after the company said that it has raised Rs 550 crore through allotment of non-convertible debentures (NCDs) on a private placement basis.
In series A, the company allotted 39,000 unlisted, unrated, secured, redeemable, non-convertible debentures (NCDs) of face value of Rs 1 lakh each, aggregating up to Rs 390 crore, for cash at par, issued on a private placement basis. These NCDs bear a coupon rate of 11.5% per annum. payable semi-annually. Their maturity date is 15 April 2025.
In series B, the company allotted 16,000 unlisted, unrated, secured, redeemable, NCDs of face value of Rs 1 lakh each, aggregating up to Rs 160 crore, for cash at par, issued on a private placement basis. These are zero coupon NCDs with accelerated redemption premium. Their maturity date is 15 July 2026.
Sadbhav Infrastructure Project is engaged in development, construction as well as operation & maintenance of infrastructure projects and related consulting and advisory services.
The company reported a consolidated net loss of Rs 56.50 crore in Q3 FY21 as compared to a net loss of Rs 116.81 crore in Q3 FY20. Net sales during the quarter declined by 33.39% YoY to Rs 336.91 crore.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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