Rashtriya Chemical & Fertilizers (RCF) on Thursday announced that the board has approved raising upto Rs 1,400 crore in one or more tranches by issuing non-convertible debentures (NCDs) through private placement basis.
In an exchange filing, RCF said, The board has considered and approved the issue of secured/unsecured, non-convertible debentures in one or more series/tranches, aggregating upto to Rs1,400 crore in the period of next twelve months through private placement basis subject to the approval of the shareholders at the ensuing annual general meeting.
Rashtriya Chemicals & Fertilizers (RCF) is engaged in the manufacturing and marketing of fertilizers and industrial chemicals. As on 30 June 2024, the Government of India held 75% stake in the company.
The companys consolidated net profit slipped 84.04% to Rs 10.80 crore in Q1 FY25 as compared with Rs 67.69 crore posted in same period last year. Revenue from operations grew by 8.73% year on year (YoY) to Rs 4,396.06 crore during the quarter ended June 2024.
Shares of Rashtriya Chemicals & Fertilizers slipped 1.83% to Rs 195.45 on the BSE.
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