Kolkata-based FMCG firm Emami has alloted debentures worth Rs 300 crore to DBS Bank on private placement basis to retire its short term debt.
The company has "allotted 3,000 unsecured non-convertible debentures of the face value of Rs 10 lakh each, aggregating to Rs 300 crore to DBS Bank," Emami said in a BSE filing.
The allotment is in terms of the approval granted by the shareholders at its meeting held on August 5, 2015, it added.
"Further, the entire proceeds of the NCD issue will be used to retire the short term debt including payment of commercial papers," said Emami.
Shares of Emami today settled 0.28 per cent down at Rs 990.45 apiece on BSE.
