Latest News | CESC to Raise Rs 400cr Via NCD

Kolkata, Sep 28 (PTI) RP Sanjiv Goenka group's flagship company CESC Ltd on Tuesday said its board has approved a plan to raise Rs 400 crore through unsecured non-convertible debentures (NCDs) on a private placement basis.

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The tenure of the NCDs is of five years and the interest rate will be linked to treasury bill rates.

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" ...the committee of the board, at its meeting held today, has approved the issue of 4,000 redeemable, rated, senior, secured, unlisted non-convertible debentures having a face value of Rs 10 lakh each for cash at par aggregating to Rs 400 crore, on a private placement basis," the company said in a regulatory filing.

The group recently hived off its entire 156-MW wind power assets to Torrent Power at Rs 790 crore.

(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)