Century Textiles and Industries said that its board has approved raising upto Rs 400 crore in one or more tranches through non convertible debentures (NCDs) on private placement basis.
The company plan to raise funds by issuing listed, rated, unsecured, redeemable, non-convertible debentures of the company on private placement basis within the borrowing limits approved by the shareholders subject to such statutory and regulatory approvals as may be necessary under applicable laws.Century Textiles & Industries is principally engaged in manufacturing of textiles, pulp and paper and real estate. The company's consolidated net profit jumped 60.1% to Rs 71.58 crore on 21.3% rise in net sales to Rs 1,210.78 crore in Q2 FY23 over Q2 FY22.
The scrip was down 0.88% to Rs 709.25 on the BSE.
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