Godrej Industries down 1% on board approval to raise Rs750cr via private placement

The NCDs have a Face Value of Rs10,00,000 each.

Jul 14, 2020 12:07 IST India Infoline News Service

Godrej Industries was trading on a negative note on Tuesday despite the board of directors approved its fundraising proposal. At around 12.09 pm, the company's stock was performing at Rs359.45 per piece, down 1.34% on Sensex.

In its filing to exchanges, the company informed that the Management Committee of the Board of Directors of the Company has today, i.e. on July 13, 2020, inter alia, approved the Information Memorandum for issuance of up to 7,500 (Seven Thousand Five Hundred) Rated, Listed, Unsecured, Redeemable, Non-Convertible Debentures.

The NCDs have a Face Value of Rs10,00,000 each.

Through the issuance, the company plans to raise about Rs750cr on private placement.

On Sensex, the stock has touched an intraday high and low of Rs375 per piece and Rs357 per piece respectively. 

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