Deepak Fertilisers and Petrochemicals Corporation today said it is planning to raise Rs 250 crore through private placement of non-convertible debentures to replace its existing debt.
A decision in this regard will be taken in the board meeting scheduled on November 2, the company said in a regulatory filing.
The board meeting would "consider the issue of non- convertible debentures (NCDs) aggregating to Rs 250 crores on private placement basis subject to shareholders' approval," Deepak Fertilisers said.
The fresh issue of NCDs is basically to replace the existing debt, it said.
In 2013, the company had raised Rs 350 crore through private placement of NCDs and the last instalment will be repaid in January 2018, it added.
Shares of the company closed 0.18 per cent up at Rs 468.85 apiece on the BSE.
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