Crompton Greaves Consumer Electrical board to raise up to Rs925 crore via debt securities; Stock dips 3.4%

13 Jun 2022 , 01:04 PM

Crompton Greaves Consumer Electricals Limited has informed to the exchanges regarding board meeting outcome held on June 13, 2022.

According to the  regualtory filing, the Board at its meeting held on June 13, 2022 has considered the proposal to modify the Company’s debt profile and approved the following:

• The buyback of rated, listed commercial paper aggregating to an amount of up to Rs600 crore; and
• To raise long term funds by way of issuance of secured, rated, listed, redeemable non-convertible debentures on private placement basis up to Rs925 crore, subject to the borrowing limits of the Company as approved by the shareholders.

At around 1:03 AM, Crompton Greaves Consumer Electricals was trading at Rs329.25 apiece down by Rs11.6 or 3.4% from its previous closing of Rs340.85 apiece on the BSE.

The scrip opened at Rs338.50 and has touched a high and low of Rs338.50 and Rs326.85 respectively so far today.