The board of directors of Blue Star Ltd, at its meeting held on Thursday, April 30, approved the issuance of non-convertible debentures (NCD) of up to ₹500 crore through a private placement to eligible investors.
Based on this enabling resolution, the air-conditioning and commercial refrigeration major said, it intends to issue NCDs amounting to ₹300 crore in the near term. The funds will be used to finance its working capital needs and capital expenditure plans. The company said it plans to raise the funds in May.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.