Board of Va Tech Wabag approves fund raising via NCDs issue up to Rs 200 cr

1 Dec 2022 , 01:34 AM

The Board of Va Tech Wabag at its meeting held on 25 November 2022 has discussed the various options towards optimizing the quantum and cost of debt of the Company including low cost and long term options The Board after deliberations inter-alia considered and approved the proposal for fund raising by way of issue of Non-Convertible Debentures NCD upto Rs 200 crore in one or more tranchesseries to Asian Development Bank ADB on a private placement basis as may be permitted under applicable laws subject to necessary approvals permissions consents and sanctions as may be required The Board also placed on record its appreciations in regards to the managements continuous efforts towards debt optimization and mentioned that this NCD proposal will further contribute to the same