The Committee of Board of Directors of the Raymond Ltd on Friday approved the issue of Non-Convertible Debentures (NCDs) for an amount up to ₹100 Crore on private placement basis.
The tenure of the NCDs, which carry a floor rate of 7.6 per cent per annum (payable annually), is 1,095 days from the deemed date of allotment, Raymond said in an exchange filing, .
The company, which has business interests in Textile and Apparel sectors as well as presence across diverse segments such as FMCG, Realty, among others, said the NCDs shall be secured by a first pari passu charge on the immovable fixed assets of 1.25 times the amount outstanding under the NCDs.
The NCDs will be listed on the National Stock Exchange of India Ltd.
ends