UltraTech Cement To Raise Rs 1000 Cr via NCDs

UltraTech Cement is considering to raise Rs 1,000 crore by issuing non-convertible debentures (NCDs) on private placement basis on or after December 30.

The Board of Directors of the company in May this year had approved the raising of funds, by way of issuance of NCDs, foreign currency loan or rupee term loan, or in any other manner, in one or more tranches.

"The company is considering a proposal to raise funds by issuance of 10,000 rated, listed, non-convertible, redeemable, unsecured NCDs of Rs 10,00,000 each aggregating to Rs 1,000 crores, on private placement basis, including the terms and conditions of the issue, on or after 30th December, 2020," UltraTech said in a regulatory filing.

On Thursday, shares of the company on the BSE closed at Rs 5,041.80, higher by Rs 8.55 or 0.17 per cent from its previous close.