Gujarat Fluorochemicals rallied 4.59% to Rs 3,109.30 after the company's board approved the allotment of 5,000 non-convertible debentures (NCDs) of a face value of Rs 1 lakh each aggregating to Rs 50 crore, on private placement basis.
These senior, secured, listed, rated, taxable, redeemable, non-convertible debentures have a coupon rate of 7.85% per annum payable annually.
The tenure of the instrument is 2 years 11 months and 28 days from the date of allotment (maturity date being 20 March 2026).
The debentures are proposed to be listed on wholesale debt market segment of BSE.
Gujarat Fluorochemicals (GFL) is the flagship company of Inox group. The company has evolved to being largest producer of chloromethanes, refrigerants and Polytetrafluroethylene in India.
The company's consolidated net profit surged 61% to Rs 329.45 crore on 41.2% jump in revenue from operations to Rs 1,417.91 crore in Q3 FY23 over Q3 FY22.
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