Page 2 - Ncds

'AA'-rated NCDs: Risky to focus just on returns, say analysts

Limit exposure to 5-15% of debt portfolio, avoid investing for very long tenures

Godrej Industries raises Rs 750 crore through non-convertible debentures

Godrej Industries Ltd on Tuesday said it has raised Rs 750 crore through private placement of non-convertible debentures. The management committee of the board of directors of the company has on September 28 approved the allotment of 7,500 rated, listed, unsecured, redeemable, non-convertible debentures having face value of Rs 10 lakh aggregating to Rs 750 Crore to an identified investor, Godrej Industries Ltd said in a regulatory filing. The company, which is a holding company of the Godrej Group, however, did not disclose the identity of the investor. The proceeds of the issue are proposed to be used for business purposes, investments, repayment or prepayment of certain loans and for general corporate purposes, it added. The NCDs, which will be listed on the National Stock Exchange of India, will have a tenure of 7 years with a redemption date slated for September 28, 2028, it added. Carrying a coupon rate of 7.58 per cent per annum, payable annually, the NCDs will be redeemed

CESC board approves plan to raise Rs 400cr via non-convertible debentures

RP Sanjiv Goenka group's flagship company CESC Ltd on Tuesday said its board has approved a plan to raise Rs 400 crore through unsecured non-convertible debentures (NCDs) on a private placement basis

REC gets shareholder nod to raise up to Rs 85,000 cr via bonds, debentures

State-owned REC has got shareholders' approval to raise up to Rs 85,000 crore through issuance of non-convertible bonds or debentures. "All resolutions as set out in the Notice of 52nd AGM of the company have been duly approved & passed by the shareholders with requisite majority," a BSE filing said on Monday. The funds would be raised on private placement basis in one or more tranches, according to the notice for 52nd Annual General Meeting (AGM) held on September 24, 2021. "It is proposed to pass a special resolution to enable the company to raise funds through private placement of unsecured/secured non-convertible bonds/debentures up to Rs 85,000 crore, during a period of one year (from September 23, 2022)," the notice had said. Further, it had said the amount planned to be raised shall be within the overall revised borrowing limit, being proposed for approval by the shareholders. The company had also proposed alteration to Objects Clause of Memorandum of Association of the ...

ICICI Home Finance to recast 4-5% of its loans, raise Rs 2,000 cr via NCD

Its pool of recast loans stood at 3.4 per cent of AUM by the end of June, according to CRISIL

Edelweiss Financial Services raises Rs 400 crore through NCDs

Edelweiss Financial Services Ltd (EFSL) Monday said it has raised Rs 400 crore through issuance of non-convertible debentures (NCDs).

Embassy REIT to raise up to Rs 300 cr via non-convertible debentures

Embassy Office Parks REIT will raise up to Rs 300 crore through issue of non-convertible debentures. The company did not disclose where the funds will be utilised. In a regulatory filing, the company informed that the board of Embassy Office Parks Management Services Pvt Ltd, the manager to Embassy Office Parks REIT, had in November last year approved the raising of debt, including the issue of non-convertible debentures, for an aggregate amount up to Rs 3,641.1 crore in one or more tranches. Out of this, Rs 2,600 crore was raised earlier as REIT NCD Series-III. On Thursday, the debenture committee of the board of directors of the manager, has approved the further issuance of 3,000 listed, rated, secured, redeemable, transferable, rupee denominated non-convertible debentures of face value of Rs 10,00,000 each, aggregating up to Rs 300 crore by Embassy REIT on a private placement basis. In January this year, Embassy REIT had raised Rs 2,600 crore through issue of non-convertible ..

MIAL raises Rs 7,200 cr via NCDs and foreign loans, refinances debt

The capital raise happened last month and around Rs 6,500 crore of loans owned to domestic lenders were repaid

Tata Sons seeks shareholders' approval to raise Rs 40,000 crore in debt

The shareholders will vote on the proposal on September 14 at the company's annual general meeting

QIP mechanism: Sebi makes e-book platform mandatory for NCDs portion

Markets regulator Sebi on Friday came out with guidelines for non-convertible debentures with warrants products, whereby it made electronic book platform mandatory for the NCDs portion of the issue

IIFL Home Finance files draft shelf prospectus to raise up to Rs 5,000 cr

IIFL Home Finance plans to raise up to Rs 5,000 crore, to boost its lending business, through public issue of non-convertible debentures.

Fund raising via NCDs drops 29% in FY21 on decline in credit ratings

Fund raising through issuance of debentures dropped 29 per cent to Rs 10,587 crore in 2020-21

GIC Housing Finance raises Rs 195 crore via non-convertible debentures

GIC Housing Finance on Tuesday said it has raised Rs 195 crore through issuance of (NCDs) to Aditya Birla Sun Life Mutual Fund on private placement basis

Jindal Saw says it raised Rs 500 crore through allotment of NCDs to LIC

Jindal Saw on Friday said it raised Rs 500 crore through allotment of non-convertible debentures on a private placement basis to LIC of India

Kesoram's Rs 2063 cr debt raising via NCDs and OCDs at stiff coupon rates

The company informed bourses that it has also raised Rs 1,603 crore via NCDs with maturity in February 2026, and optionally convertible debentures amounting to Rs 459 crore

IRB Infrastructure Developers to raise up to Rs 2,200 crore via NCD issue

IRB Infrastructure Developers on Wednesday said it will raise up to Rs 2,220 crore through issuance of non-convertible debentures

We hope investors will continue to support us: Hemant Kanoria of Srei Infra

In a Q&A, the company's chairman says the firm had to freeze interest payment and redemption of NCDs due to the pandemic and related regulatory approach

Future Lifestyle Fashions defaults on NCD payments worth Rs 31 cr

The gross principal amount on which the default has occurred is Rs 350 crore

ICICI Prudential Life raises Rs 1,200 crore through maiden NCD sale

Leading private sector life insurer ICICI Prudential Life on Friday raised Rs 1,200 crore in debt capital through the sale of non-convertible debentures (NCDs) -- a first for the company

CRISIL upgrades rating on Tata Power NCDs, long-term bank facilities

Tata Power on Thursday said Crisil has upgraded its rating on the company's non-convertible debentures and long-term bank facilities. "Crisil has upgraded its rating of The Tata Power Company Ltd to 'Crisil AA' from 'Crisil AA-' on the non-convertible debentures and long-term bank facilities, Tata Power said in a regulatory filing. The outlook on the rating has been revised to 'stable' from 'positive'. The rating on Tata Power's commercial paper programme has been reaffirmed at Crisil A1+, it said. Tata Power said the rating upgrade has been driven by the de-leveraging initiatives such as sale of non-core assets (South African wind asset and shipping business) and the preferential allotment of equity undertaken by the company. Praveer Sinha, CEO and Managing Director, Tata Power said this rating upgrade recognises the significant efforts of the company to strengthen the fundamentals. The company is on course to achieve the deleveraging and restructuring of business as laid out in