New Delhi, Dec 28 (PTI) Power utility firm CESC Ltd will raise Rs 200 crore by issuing 20,000 Non-Convertible Debentures (NCDs) to Axis Bank on a private placement basis.

The company's board, at its meeting on Wednesday, approved the issue of the secured, unlisted, redeemable, rated NCDs, according to a regulatory filing.

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In the first tranche, 20,000 NCDs worth Rs 200 crore will be issued and in the second tranche these securities worth Rs 100 crore will be issued.

The NCDs, each having a face value of Rs 1,00,000, will be issued on a private placement basis to Axis Bank, as per the filing.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)