Indus Towers to raise Rs2,000 crore through NCDs; Stock slips 2%

28 Oct 2022 , 10:54 AM

Indus Towers Limited has informed that the Board of Directors of the Company in its meeting held on Thursday has, inter alia, approved raising of funds by way of issuance of Non-Convertible Debentures (‘NCD’s) of up to Rs2,000 crore in one or more tranches on private placement basis.

In this regard, the Board has authorized a Committee of Directors to determine the detailed terms and conditions thereof, the company said.

According to the filing, the Board Meeting commenced at 4.10 p.m. and concluded at 8:23 p.m.

On Friday, at around 10:55 AM, Indus Towers was trading at Rs186.90 per share lower by 2.15% as against previous closing of Rs191 per share on the BSE.

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