PremiumHindalco Industries Ltd on 18 January announced the public issue of non-convertible debentures (NCDs) worth ₹700 crore.
The capital raising committee has approved an allotment of 70,000, that is 7.60 percent per annum, rated, listed, unsecured, redeemable, non-convertible debentures (NCDs) of ₹1,00,000 each aggregating to ₹700 crore, on private placement basis, it said in a regulatory filing.
"Please note that the Capital Raising Committee of the Board of Directors of the Company has today approved allotment of 70,000 – 7.60% p.a., Rated, Listed, Unsecured, Redeemable, Non-Convertible Debentures of ₹1,00,000 each aggregating to ₹700 Crores, on Private Placement Basis [“NCDs"]," the stock regulatory filing said.
According to the firm, the debentures will be redeemed at par at the end of the 14 months from the date of allotment, i.e. 18 January, 2023. The redemption or the maturity date has been fixed as 18 March, 2014.
Also, the NCDs will be listed on the wholesale debt market segment of the National Stock Exchange of India (NSE).
The share of Hindalco Industries Ltd ended at ₹503.05 on Wednesday, up by ₹15.10, or 3.09 percent on the BSE.