Havells India to issue Rs 150 cr commercial paper to Yes Bank

Consumer electrical goods maker Havells India today said it will issue commercial paper worth Rs 150 crore to private sector lender Yes Bank.
Havells India Ltd is going to issue commercial paper to Yes Bank for an amount of Rs 150 crore, the company said in a regulatory filing.
Commercial paper is an unsecured debt instrument issued normally for meeting short-term liabilities.
The tenure of the security is 90 days and the proposed date of allotment is June 20.
The bonds will mature on September 18, 2017, the company said.
Shares of Havells India closed at Rs 487.40, down 1.02 per cent on BSE.