 "CESC board approves plan to raise Rs 400cr via non-convertible debentures")
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.
The tenure of the NCDs is of five years and the interest rate will be linked to treasury bill rates.
" ...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.
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