IT major HCL Technologies today said it has raised Rs 500 crore by way of debt through allotment of debentures.
In a filing to the Bombay Stock Exchange, HCL Tech said it has allotted 5,000 non-convertible debentures (NCD) of face value Rs 10 lakh each, aggregating to Rs 500 crore.
The NCDs would have a quarterly cut-off coupon rate of 8.80 per cent. The debentures have a maturity period of five years and would be listed on the Wholesale Debt Market segment of the National Stock Exchange, it added.
NCDs are debt instruments which are not convertible into equity shares.
Shares of HCL Technologies were trading at Rs 313 on the BSE, up 1.26 per cent over previous close.
