Crompton Greaves Consumer Electricals Ltd on Monday said it plans to raise long-term funds up to Rs 925 crore through the issuance of non-convertible debentures on a private placement basis.
The board of directors of the company at its meeting held on Monday also approved the buyback of rated, listed commercial paper aggregating to up to Rs 600 crore, Crompton Greaves Consumer Electricals Ltd (CGCEL) said in a regulatory filing.
These are part of a proposal to modify the company's debt profile which have been considered by the board and approved, it added.
The company said it plans to raise long-term funds by way of issuance of secured, rated, listed, redeemable non-convertible debentures (NCDs) on private placement basis up to Rs 925 crore, subject to its borrowing limits as approved by the shareholders.
Further, CGCEL said its board also approved requests from MacRitchie Investments Pte Ltd and Seletar Investments Pte Ltd -- entities belonging to the promoter group, for re-classification from the 'promoter and promoter group' category to 'public' category as per Sebi listing regulations.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app