Fortis Healthcare to redeem NCDs worth Rs 150 cr tomorrow

Fortis Healthcare today said it will fully redeem privately placed debt securities of the company totalling Rs 150 crore on the redemption date tomorrow.

"The company shall fully redeem the secured redeemable non-convertible debentures on the redemption date which is September 24, 2013,"  Fortis Healthcare said in a filing to BSE.

The 1,500 debentures are of face value Rs 10 lakh per unit, it added.

Non-Convertible Debentures (NCDs) are secured, negotiable money market instruments with original maturity of less than one year issued by corporates to meet their short term funding requirements, issued by way of private placement with investors.

Shares of Fortis Healthcare today closed at Rs 97.50 per share on BSE, down 0.41% from their previous close.