Crompton Greaves Consumer Electricals to raise Rs 925 cr via NCDs

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

Earth temperature, ACs, high temeperature, summers, hotter summers, Voltas, Blue Star, Johnson Controls-Hitachi, Lloyds, Symphony, Crompton Greaves Consumer Electricals, HSBC Global Research, heat in June, Blue Star and Hitachi, Crompton Greaves Cons
Crompton Greaves Consumer Electricals
Press Trust of India New Delhi
1 min read Last Updated : Jun 13 2022 | 3:02 PM IST

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.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

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

More From This Section

Topics :Crompton Greaves Consumer ElectricalsNon convertible debenturesfund raising

First Published: Jun 13 2022 | 3:02 PM IST

Next Story