Page 2 - Non Convertible Debentures

Godrej Properties raises Rs 1,275 cr via non-convertible debentures

Realty firm Godrej Properties has raised Rs 1,275.40 crore through the issue of non-convertible debentures (NCDs) on a private placement basis. In a regulatory filing on Friday, the company said the allotment committee of the board of directors of the company approved the allotment of 93,540 unsecured redeemable NCDs of the face value of Rs 1 lakh each, aggregating to Rs 935.40 crore. It also approved allotment of 34,000 such NCDs aggregating to Rs 340 crore. These NCDs were allotted to identified investors on a private placement basis. Godrej Properties is one of the leading real estate developers in the country. The company achieved maximum sales bookings number last fiscal among listed real estate entities. Godrej Properties plans to launch residential projects worth Rs 30,000 crore this fiscal across major cities to achieve 20 per cent growth in sales bookings amid strong demand, its executive chairperson Pirojsha Godrej had said in May. In an interview with PTI, Pirojsha ha

Edelweiss Financial Services plans to raise up to Rs 200 crore through NCDs

The company plans to allocate at least 75% of funds raised to the repayment or prepayment of existing borrowings

NTPC board to consider raising up to Rs 12,000 cr via bonds on Jun 29

State-owned power giant NTPC on Tuesday said its board on June 29 will consider a proposal to raise up to Rs 12,000 crore through the issuance of bonds. The board of directors is scheduled to meet in New Delhi on Saturday, June 29, to consider issue of "secured/ unsecured, redeemable, taxable/tax-free, cumulative/noncumulative, non-convertible debentures up to Rs 12,000 crore", subject to approval of shareholders in the ensuing Annual General Meeting, a BSE filing said. NTPC is India's one of the leading power-generating companies. Total Income of the NTPC group for FY24 was Rs 1,81,166 crore against Rs 177,977 crore in the previous year. The PAT of the group for FY24 was Rs 21,332 crore against the previous year's PAT of Rs 17,121 crore, registering an increase of almost 25 per cent. The company recently told analysts in a concall that it has various capital expenditure projects such as ongoing projects and new capacity addition programs including Flue Gas Desulphurisation (FGD) ..

Vedanta to raise $120 million by issuing non-convertible debentures

In the past two months, Vedanta's board has already approved raising up to $300 mn through debentures

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Diversify across bonds with different credit ratings and hold them till maturity

DLF plans to raise Rs 600 crore through issue of debentures to investors

Realty firm DLF Ltd is raising Rs 600 crore through issue of non-convertible debentures (NCDs) to investors for refinancing of its existing debts. In a regulatory filing on Wednesday, DLF informed that the company's wholly owned subsidiary DLF Home Developers Ltd has raised this amount. The Securities Allotment Committee of the Board of Directors of DHDL has approved the allotment of 60,000 NCDs, having face value of Rs 1 lakh each, for an aggregate principal amount of Rs 600 crore on a private placement basis to eligible investors. DLF, the country's largest real estate developer in terms of market capitalisation, did not mention where the amount would be utilised. Sources said the amount will be utilised for refinancing its existing debts. DLF Group has 215 million square feet of development potential across residential and commercial segments. The group has an annuity portfolio of over 42 million square feet. The company's sales bookings jumped two times annually to Rs 13,316

L&T board approves a proposal to raise funds worth Rs 7,500 crore

L&T added, these funds would be raised in the form of external commercial borrowings, term loans, non-convertible debentures, or any other instrument as may be appropriate

Tata Steel plans to raise up to Rs 2,700 crore capital through debentures

Tata Steel on Tuesday said a board committee has approved raising of up to Rs 2,700 crore through debentures. "The Committee of Directors (constituted by the Board of Directors of Tata Steel Ltd), at its meeting held today i.e., March 19, 2024, considered and approved the issue of NCDs," the steel major said in a regulatory filing. The date of allotment of non-convertible debentures (NCDs) is March 27 and its maturity date is March 26, 2027. Tata Steel group is among the top global steel companies with an annual crude steel capacity of 35 million tonnes per annum. Shares of the company declined 0.64 per cent to Rs 148.65 apiece on the BSE.

Grasim Industries secures Rs 1,250 cr from International Finance Corp

The investment by IFC, World Bank's private sector arm, will be in the form of a subscription to non-convertible debentures (NCD) issued by Grasim

Future Consumer defaults on payment of Rs 133 crore towards debentures

Future Consumer Ltd (FCL) has defaulted on the payment of Rs 132.97 crore towards payment of principal and interest of Non-Convertible Debentures (NCD) issued by the company to CDC Emerging Markets. FCL had defaulted on payment towards interest amount of Rs 32.97 crore and principal amount of Rs 100 crore, according to a regulatory filing by the FMCG arm of the debt-ridden Future Group on Friday. "The company has been unable to service its obligations towards payment of principal and interest due on unlisted Non-Convertible Debentures issued by the company to CDC Emerging Markets Ltd," it said. The default happened on February 15, 2024. Future Consumer had sought deferment for payment of principal and interest amount due towards NCDs, the filing added. It had NCDs of Rs 200 crore for a tenure of seven years with a coupon rate of 11.07 per cent per annum. This was applicable from the date of allotment, which is February 15, 2018. FCL, part of the Kishore Biyani-led Future Group, i

Navi Finserv plans to raise up to Rs 600 cr via bond issue to fund growth

NBFC firm Navi Finserv on Monday said it plans to raise up to Rs 600 crore through issuance of Non-Convertible Debentures (NCDs) to fund business growth. The total issue size includes a green shoe option of up to Rs 300 crore to retain oversubscription. The secured, rated, listed NCDs will have tenors of 18, 27, and 36 months and offer effective yields between 10.47-11.19 per cent per annum, the company said in a statement. The issue would open for subscription from February 26 onwards, it said. The funds raised through the bond issue will be used for onward lending, financing, loan repayment, and general corporate purposes, it said. This is the third capital raise through NCDs in the last two years by Sachin Bansal-led Navi Finserv.

Brookfield-backed India Infra InvIT to raise Rs 6,452 crore via debentures

The infrastructure investment trust is in the process of issuing NCDs, and the proceeds will be used entirely to refinance debt maturing at the Special Purpose Vehicle (SPV) level

Indel Money launches fourth public issue of NCDs, aims to raise Rs 200 cr

The company had launched three public issues of NCDs since 2021 and raised more than Rs 260 crore

Major Gold financer Muthoot Fincorp launches Rs 300-cr NCDs issue

Leading gold loan financier Muthoot Fincorp on Friday said it will raise Rs 300 crore through the issue of secured, redeemable, non-convertible debentures (NCDs). The issue opened for public subscription from Friday and will be open till January 25, the company said. The company said the proposed debt issuance is within the shelf limit of the board approved plan of raising up to Rs 1,100 crore this fiscal. The base size of the third tranche is Rs 75 crore with a green shoe option of Rs 225 crore. The company offers tenure options of 24 months, 36 months, 60 months, and 96 months with monthly, annual, and cumulative payment options across options with the coupon rate ranging from 9.26-9.75 per cent.

Sebi to auction 30 properties of 6 companies to recover money on Feb 13

Sebi on Thursday said it will auction 30 properties of six companies, including Mangalam Agro Products, on February 13 to recover money illegally collected from the investors. The properties will be auctioned for a reserve price of nearly Rs 30 crore. The other companies whose properties will also be auctioned are Bishal group of companies, Purusattam Infotech Industries, NVD Solar Ltd, Sun Plant Business and Jivan Sathi Dream Projects. The properties that go under the hammer include land parcels, plots, land with building structures and flats in West Bengal and Odisha, and they will be auctioned at a reserve price of Rs 29.97 crore, according to a notice issued by Securities and Exchange Board of India (Sebi). The markets regulator invited bids for sale of properties in the recovery proceedings against Mangalam Agro Products, Purusattam Infotech Industries, Jivan Sathi Dream Projects, Sun Plant Business, Bishal group and NVD Solar, along with their promoters/ directors, it said.

360 ONE Prime aims to raise Rs 1,000 cr through non-convertible debentures

As of March 2023, the company's assets under management stood at Rs 4,927 crore, and the net profit stood at Rs 234.52 crore. The total revenue of the company stood at Rs 673.66 crore

NBFC lender 360 One Prime to raise Rs 1,000 cr from reedemable NCDs

Non-banking financial company 360 One Prime, formerly IIFL Wealth, on Monday said it will raise up to Rs 1,000 crore debt through its maiden public issue of secured, redeemable, Non-Convertible Debentures (NCDs). The first tranche of the issue, which will be listed on the BSE, will open for subscription on January 11, with a base issue size of Rs 200 crore and an option to retain over-subscription of up to Rs 800 crore, the company in a statement said. The proceeds from the issue will be used for onward lending, financing/refinancing existing debt and interest payment of existing borrowings and other general corporate purposes. The company offers a coupon rate of 8.91-9.66 per cent per annum, depending on the tenor -- 18, 24, 36, and 60 months with monthly and annual interest payment options across eight series -- Karan Bhagat, Founder, and Chief Executive of the company, said. 360 One Prime is a wholly-owned subsidiary of 360 One WAM, which was formerly known as IIFL Wealth ...

RBI directs issuers to specify utilisation of funds raised via NCDs, CPs

For better transparency, issuers are now required to disclose long-term and unaccepted credit ratings in the offer document

Adani Ports to raise up to $601 million funds by selling debentures

Billionaire Gautam Adani was re-designated as executive director from managing director and his son Karan Adani was re-designated as managing director from CEO, the company added

2023 sees record Rs 8.8 trn corp bond, NCD issuances amid favourable market

Market participants said the corporate bond market showcased resilience and promise in 2023