Page 2 - Ncds

Vedanta board approve raising Rs 2,500 crore in non-convertible debentures

These would be raised in the form of secured, unrated, unlisted, redeemable NCDs in one or more tranches, the company said

Cube Highways Trust secures Rs 1,030 cr funding from IFC via long-term NCDs

The funds raised through this deal will be utilised for a special purpose vehicle (SPV) owned by Cube Highways Trust

IIFL to raise Rs 1,500 cr in bonds to fuel growth, caps coupon rate at 9%

Leading non-bank lender IIFL Finance is raising up to Rs 1,500 crore through a public issue of secured redeemable non-convertible debentures (NCDs) to fuel credit growth and debt management, a senior company official said on Thursday. The public issue of the IIFL NCDs will open on Friday and has a base offer of Rs 300 crore. However, the company has a green shoe option to retain an over-subscription of up to Rs 1,200 crore. With the Reserve Bank of India pausing its rate hike cycle, IIFL remains optimistic about raising the entire Rs 1,500 crore in this tranche of issues with an attractive 9 per cent coupon rate. "We expect to raise the full subscription amount in this issue due to the attractive coupon rates. Credit growth is robust after the Covid-19 pandemic, IIFL Director Gaurav Mishra said. The IIFL bonds offer a coupon rate starting at 8.35 per cent for 24 months and the highest effective yield of 9 per cent per annum for a tenor of 60 months. IIFL has kept the highest coupo

SBI Cards and Payment Services to raise Rs 3,000 crore through NCDs

The board approved raising of funds by way of issuance of NCDs in one or more tranches, on a private placement basis

Embassy REIT raises Rs 1,050 crore through NCDs to refinance bank loans

Embassy Office Parks REIT expects to secure interest savings of approximately 138 basis points

Indel Money to raise Rs 100 cr via secured non-convertible debentures

Indel Money Limited, a non-bank lender focussed on gold loan, on Thursday said it will raise Rs 100 crore through secured non-convertible debentures (NCDs). The NCD issue of face value of Rs 1,000 each will open on June 6 and close on June 19, the lender said in a release. "The issue includes a base issue size for an amount of up to Rs 50 crore with an option to retain oversubscription up to Rs 50 crore aggregating up to Rs 100 crore," it said. The debentures will be issued for a tenure ranging from 400 days to 72 months with coupon rates of up to 12.25 per cent per annum, the company said, adding that the issue is rated as BBB+/Stable by Crisil Ratings Ltd. "Increased revenue, profitability and visibility are the factors that drive the branch network. With this issue, we aim to expand our sources of funds," said Umesh Mohanan, Executive Director and CEO, Indel Money. Indel Money earlier raised Rs 100 crore through NCDs in May 2022. It also plans to raise around Rs 300 crore thro

Health Ministry to put 75 mn with hypertension on standard care by 2025

Around 40,000 primary he­alt­hcare medical officers will be trained on standard treatment workflow for NCDs thro­ugh the Shashakt portal, MoHFW said

Centrum Capital to consider raising Rs 1,000 crore via issue of NCDs

The outcome of the board meeting will be communicated to the stock exchanges after conclusion of the board meeting on May 19, 2023

Chola Fin raises Rs 1,000 crore through maiden public bond offering

The offering was oversubscribed 5.17 times the base issue (Rs 500 crore) on the final day of the issue

Top headlines: Vedanta may issue NCDs, IMF cuts FY24 India growth forecast

Business Standard brings you the top headlines at this hour

Biggest corporate bond deal: HDFC raises Rs 25,000 crore via NCDs

ICICI, Axis, HDFC Bank, ICICI Securities Primary Dealership arranged the deal

Aditya Birla Fashion and Retail proposes to raise Rs 500 crore through NCDs

Aditya Birla Fashion and Retail Ltd (ABFRL) plans to raise Rs 500 crore through issuance of bonds on private placement basis. "The company proposed to raise funds by issuing 5,000 listed, unsecured, rated, redeemable non-convertible debentures (NCDs) of a face value of Rs 10 lakh each, issued at par aggregating to Rs 500 crore on private placement basis, on or after January 13, 2023," the Aditya Birla group firm said in a regulatory filing on Friday. This is within the limits approved by the board and shareholders of the company, it added. ABFRL, part of the USD 60 billion global conglomerate, Aditya Birla Group is India's largest multi-brand retailer of International global brands such as Ralph Lauren, Hackett, Ted Baker, Fred Perry, Forever 21, American Eagle and Reebok. The company portfolio also includes fashion brands -- Louis Philippe, Van Heusen, Allen Solly and Peter England -- and fashion retailer Pantaloons.

IIFL Finance to raise funds via public issue of non-convertible debentures

The issue, which also has a greenshoe option to retain an oversubscription of 9 billion rupees, will open for subscription on Friday and close on Jan. 18

Muthoot Finance to raise Rs 300 crore through secured redeemable NCDs

The issue offers an attractive rate of return of 7.75% to 8.25% to retail and HNI investors

Future Enterprises defaults on Rs 1.07 crore interest payment for NCDs

Debt-ridden Future Enterprises Ltd (FEL) on Thursday said it has defaulted on payment of interest on non-convertible debentures of Rs 1.07 crore. "The company is unable to service its obligations in respect of the interest on Non-Convertible Debentures was due on November 16, 2022," it said in a regulatory filing. The debentures have a coupon rate of 9.28 per cent and FEL has defaulted on interest payments for the period from May 17, 2022, to November 15, 2022. The total amount of securities issued was Rs 23 crore and a default has occurred on this gross principal amount. The debt-ridden Future Group has been facing three petitions filed by its operational creditors before the National Company Law Tribunal (NCLT) to initiate insolvency proceedings against the company. Lenders of FEL have also appointed an auditor for conducting a forensic audit of the firm. FEL had recently defaulted on payment of interest on several Non-Convertible Debentures (NCDs). It is engaged in the busines

National Highways Infrastructure Trust issues Rs 1,500-crore NCDs

Minister Gadkari had said will tap public funds for highways

Diabetes burden: India lost 45 years of healthy life per person in 2021

By 2040, Type 1 diabetes cases to increase by 116% in India, says Lancet study

Indiabulls Housing Finance to raise Rs 1,000 cr via public issue of bonds

The Issue will open for subscription on Monday, September 5 and closes on September 22

Future Enterprises defaults on Rs 12.68 crore interest payment for NCDs

Debt-ridden Future Enterprises Ltd (FEL) said it has defaulted on payments of interest of two non-convertible debentures totalling Rs 12.68 crore. The due date for payment was August 17, 2022, FEL said in a regulatory filing. "The company is unable to service its obligations in respect of the interest on Non-Convertible Debentures (NCDs) due on August 17, 2022," it said on Thursday. The debentures are secured with a coupon rate of 9.60 per cent per annum. The interest amount was payable for the period between February 16 and August 17, 2022, it said. The amount of securities issued was Rs 106 crore and Rs 159 crore, totalling Rs 265 crore. Earlier this week FEL informed exchanges that an operational creditor of the company has filed a plea before the National Company Law Tribunal to initiate insolvency proceedings against the firm. The Future group firm has missed the interest payment of several NCDs in the last three months. FEL was part of the 19 Future group companies operat

Kesoram Industries to raise high-cost funds via FDs; to offer 12.25% rate

To offer 12.25% rate; plans to use proceeds for working capital, pare debt