JMC Projects' board approves Rs200 crore fund raise via NCDs

22 Sep 2022 , 09:23 AM

JMC Projects Limited informed that the company’s Board of Directors has approved the raising of funds up to Rs200 crore.

The company will issue Listed, Rated, Secured/Unsecured, Redeemable Non-Convertible Debentures (NCDs) on a private placement basis.

These NCDs can be issued in one or more tranches/series within the borrowing limits approved by the shareholders subject to such statutory and regulatory approvals as may be necessary under applicable laws, said the company in a regulatory filing.

The company further stated that the Board has also authorized the Management Committee of the Board of Directors of the Company to take necessary steps in this regard, including finalization of the terms of issuance of NCDs.

At around 9.26 AM, JMC Projects was trading at Rs99.70 up by 0.1% from its previous closing of Rs99.60 on the BSE. The scrip opened at Rs100 and touched intraday high and low of Rs100.10 and Rs99.25 respectively.

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