Tata Group firm Indian Hotels Company (IHCL) today said it has raised Rs 200 crore through issue of securities on private placement basis.
IHCL said in a filing to BSE that as per the resolution passed by the Board of Directors on May 18, 2016, "the company has today allotted 2,000, rated, listed, unsecured, redeemable, non-cumulative and non-convertible debentures aggregating to Rs 200 crore on private placement basis".
The company however did not specify how it intended to use the funds raised.
The IHCL stock closed at Rs 126.50, down 1.33 per cent, on BSE.
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