Ultratech Cement plans to raise Rs 300 crore via NCDs

The cement maker is proposing to issue 7.57%, 3,000 secured redeemable NCDs on a private placement basis

Ultratech Cement on Monday said it plans to raise Rs 300 crore through secured redeemable Non-Convertible Debentures (NCDs) on private placement basis.

"The Company is proposing to issue 7.57 per cent, 3,000 secured redeemable NCDs on a private placement basis," it said in a regulatory filing.

The issue's tenure is three years and 17 days with allotment date of July 27, 2016. It will mature on August 13, 2019, it added.

The Aditya Birla Group firm had reported a 29 per cent growth in consolidated net profit at Rs 780.11 crore for the quarter ended June 2016 helped by better sales and cost optimisation measures. This was against a net profit of 603.72 crore in the year-ago period.

Total consolidated income of the cement maker rose by 4 per cent to Rs 6,589.71 crore in April-June quarter this financial year from Rs 6,341.41 crore during the same quarter in the previous financial year.

The company said that sales volume registered a growth of 6 per cent over that of the earlier year. Its sales volume stood at 12.57 million tonnes during June quarter of 2016-17.