Sadbhav Infra raises Rs550cr through allotment of NCDs; Stock gains over 2%

The company on Thursday allotted NCDs in Series-A 39,000 and Series-B 16,000 of the face value of 1 lakh each.

Apr 16, 2021 09:04 IST India Infoline News Service

Sadbhav Infrastructure Project Limited board has passed a resolution through circulation on April 15, 2021, towards approval of the allotment of Unlisted, Unrated, Secured, Redeemable, Non-convertible Debentures. The company has raised Rs550cr by allotment of the said Debentures on a private placement basis.

In Series-A, 39,000 Unlisted, Unrated, Secured, Redeemable, Non-convertible Debentures were allotted of face value of Rs1 lakh each, aggregating up to Rs390cr (Debentures), for cash at par, issued on a private placement basis.

In Series-B, 16,000 Unlisted, Unrated, Secured, Redeemable, Non-Convertible Debentures were allotted of a face value of Rs1lakh each of an aggregate nominal value of up to Rs160cr (Debentures), for cash at par, issued on a private placement basis.

At around 9.43 am, Sadbhav Infrastructure Projects Ltd was trading at Rs20.60 per piece up Rs.45 or 2.23% from its previous closing of Rs20.15 per piece on the BSE.

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