Punj Lloyd raises Rs 600cr via debenture issue

Engineering major Punj Lloyd today said it has raised Rs 600 crore by issuing debentures on private placement basis.

The committee of directors has alloted 1,750 and 42,500 secured redeemable non-convertible debentures, totalling to Rs 600 crore on private placement basis, Punj Lloyd said in a filing to the Bombay Stock Exchange.

The company has allotted 1,750 secured redeemable non convertible debentures of Rs 10 lakh each aggregating to Rs 175 crore and has issued 42,500 secured redeemable non convertible debentures of Rs one lakh each totalling to Rs 425 crore on private placement basis, the filing added.

Shares of Punj Lloyd today closed at Rs 259 on the BSE, down 1.95 per cent from previous close.