Grasim board approves fundraising within borrowing limit of Rs10,000cr on private placement

Grasim stated that the board also authorized the Finance Committee of the Board of Directors to finalise mode, terms and conditions of raising of funds.

Mar 24, 2021 02:03 IST India Infoline News Service

Grasim Industries
Grasim Industries on Wednesday said that the board of directors have approved a fundraising plan within the overall borrowing limit of Rs10,000cr on private placement.

In its regulatory filing, Grasim stated that board approved, "raising of funds (a) by availing of term loans (in INR or foreign currency); (b) or by issue of debt securities including but not limited to the issuance of foreign currency denominated bonds or debentures (in INR or foreign currency) or any other securities (“Securities”) which may be issued in one or more tranches, in India or overseas, within the overall borrowing limit of Rs. 10,000 Crore (previously approved Rs. 7,000 Crore), on a private placement basis or otherwise, in each case from/to the eligible persons, entities, bodies corporate, companies, banks, financial institutions and any other categories of eligible investors permitted to invest in the Securities under applicable laws including the ECB guidelines issued by Reserve Bank of India from time to time and that may be listed in any one or more stock exchanges in India or overseas."

Further, Grasim stated that the board also authorized the Finance Committee of the Board of Directors to finalise mode, terms and conditions of raising of funds including availment of term loans (in INR or foreign currency) or issuance of Securities and decide on all matters and transaction relating to the same.

On Sensex, Grasim is trading at Rs1394.30 per piece down by 1.2% at around 2.56 pm.  

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