The company will issue new debentures for this amount, to retire existing non-convertible debentures to the tune of Rs 2,655 crore
The company would raise funds through private placement of debentures in one or more tranches. It, however, did not elaborate on the purpose of raising funds.
The funds would be raised for capital expenditure , working capital and general corporate purposes, in the domestic market
"The Committee of Directors approved the Issue of Non-Convertible Debentures (NCDs) of Rs 100 crore on private placement basis," the company said in a BSE filing
The stock, which jumped 7 per cent to Rs 222.75 during the day on the BSE, later pared some of the gains and settled at Rs 212.55, up 2.16 per cent
The approval on the same was given during the meeting of the committee of directors held on Tuesday, HZL said in a filing to the BSE
Shares of the company closed at Rs 28.85 a unit on BSE, down by 0.86 per cent
The issue was the joint widest distributed debt issuance by an Indian private sector corporate in the current fiscal
The captive power plant will be funded through the company's internal cash flows, according to IFC, the World Bank's investment arm
As many as five companies have raised Rs 882 crore through retail issuance of non-convertible debentures (NCDs) in the first four months of the ongoing fiscal to strengthen their balance sheets
The company's BSE filing read that Suzlon and its subsidiaries have recently concluded a comprehensive debt restructuring and issued various convertible and optional securities pursuant to the same
After CRISIL downgrades company debt, bankers ask GVK group to come out with repayment plan
In a note to investors, FT MF said that it was in the process of initiating appropriate enforcement action to recover dues from the issuer and other connected parties
Franklin Templeton shut six debt mutual fund schemes on April 23, citing redemption pressure and lack of liquidity in the bond market
These funds may be raised in one or more tranches, the company said
Bonds/non-convertible debentures constitute significant portion of company's total borrowings, says state-owned lender
Rating revision factored in likelihood of default on payments due on Wednesday
The payments to the lenders or NCD holders remain in abeyance and will be subject to the outcome of the CIRP process, the company said.
In notes to its consolidated results for FY20, the list of debt on which it has defaulted, or has delayed payments, includes 33 different lenders and non-convertible debenture (NCD) series.
The company has restarted operations at all plants with Jamshedpur facility also getting approval on May 27, Tata Motors said in a regulatory filing.