Godrej Industries announced that its management committee of the board has approved the allotment of non-convertible debentures (NCDs) aggregating to Rs 1,000 crore on private placement basis.
In series 1 debentures, the company will issue 25,000 NCDs with a face value of Rs 1 lakh each, aggregating to Rs 250 crore with an option to retain over subscription the company will issue additional 25,000 NCDs with a face value of Rs 1 lakh each aggregating to Rs 250 crore, collectively aggregating up to 50,000 NCDs each aggregating to Rs 500 crore.Consequently, in series 2, the company will issue 25,000 NCDs with a face value of Rs 1 lakh each, aggregating to Rs 250 crore with an option to retain over subscription of 25,000 rated listed unsecured redeemable non-convertible debentures of the face value of Rs 1 lakh each aggregating to Rs 250 crore, collectively aggregating up to Rs 50,000 rated listed unsecured redeemable non-convertible debentures of the face value of Rs 1 lakh each aggregating to Rs 500 crore.
Godrej Industries, a Godrej Group Company, is a conglomerate with a significant presence in home and personal care, animal feeds, dairy and agri-products, poultry, oil palm plantation and real estate.
The companys consolidated net profit tumbled 66.17% to Rs 160.41 crore in Q3 FY24 as against Rs 314.58 crore recorded in Q3 FY23. Revenue from operations declined 6.57% year on year (YoY) to Rs 3,590.08 crore during the quarter ended 31 December 2023.
The scrip rose 0.44% to Rs 804.05 on the BSE.
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