Tourism Finance Corporation of India approves NCD issue worth Rs50cr; Stock ends 2% higher

The company’s Board of Directors had earlier passed a resolution to raise Rs750cr during FY22.

November 23, 2021 4:00 IST | India Infoline News Service
Tourism Finance Corporation of India Limited on Monday approved an issue of Secured, Listed, Rated, Market Linked Redeemable Non-Convertible Debentures (NCDs) on a private placement basis aggregating to Rs50crs (Including Greenshoe option of Rs25cr).

Tourism Finance Corporation of India Ltd ended at Rs65.60 per piece up by Rs1.45 or 2.26% from its previous closing of Rs64.15 per piece on the BSE.

“The above issuance is pursuant to the approval of the Board of Directors' resolution passed at its meeting held on August 10, 2021, for raising of resources for an amount not exceeding Rs750cr during FY2021-22 by way of long/medium/short term borrowings/overdraft loans from Banks/Financial Institutions/others and/or Bonds/Debentures/other instruments,” company said in a filing on Monday.

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