Leading tyre-maker MRF, on Friday, announced the allotment of NCDs (non-convertible debentures), which aggregates to ₹150 crore.
The Finance Committee of the company at its meeting held on Friday allotted 15,000 listed, unsecured, rated, redeemable, taxable, NCDs each having a face value of ₹1 lakh aggregating to ₹150 crore on a private placement basis, the company said in a communique to stock exchanges.
The NCDs will mature in three years from the date of allotment, and the company will pay an annual coupon rate of 7.80 per cent (6.96 per cent plus 86 bps).
The company’s Board, in November 2022, approved enhancement in the issue of NCDs through private placement from the earlier approved ₹100 crore to ₹150 crore.
MRF’s scrip closed at ₹86,751.25 a piece on BSE, down 0.01 per cent, on Friday.