GR Infra bags approval to issue NCD worth Rs75cr through private placement

11 Jan 2022 , 04:38 PM

on Tuesday, GR Infraprojects informed the exchange about approval of the issuance of Non-Convertible Debentures on Private Placement Basis within the borrowing limits of the company, in the meeting of Board of Directors held on 11-01-2022.

Further, the issue will consist of 750 NCDs of Rs 10,00,000 each amounting to Rs 75 crores (with a greenshoe option of upto 250 NCDs).
The issue is proposed to be listed on the wholesale debt market segment of BSE Ltd.

The NCDs shall be issued for a period of 9 years & 364 days from the deemed date of allotment. These NCDs will offer an interest rate of 7.70% per annum.

Also, there shall be interest on the defaulted amount at the additional interest rate of 2% per annum over and above the coupon rate.
The NCD’s issued will be unsecured, and the date of allotment is yet to be confirmed.

The shares of the company are currently trading at Rs 1883.75 since its last closing price of Rs 1872.45, and have touched the high of Rs 1900 during the day.