The board of Walchandnagar Industries has approved a proposal to avail financial facilities in the form of loan and/or non-convertible debentures (NCD) up to ₹235 crore.
The funds will be used partly for repayment of existing loans and partly for long-term working capital requirement. The board also approved an issue of NCDs of up to ₹150 crore (out of ₹235 crore) on private placement basis. The decisions are, however, subject to shareholder approval.