Aditya Birla Capital Limited has informed the Exchange regarding allotment of Non Convertible Securities
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Aditya Birla Capital Limited has allotted 41,000 unsecured, rated, listed, redeemable NCDs with a face value of Rs. 1,00,000 each, raising Rs. 410 crore on a private placement basis. The NCDs carry a coupon rate of 8.03% per annum and have a long tenor of about 9.75 years, maturing on May 4, 2035. The issue was part of a larger program with a base size of Rs. 150 crore and a green shoe option of up to Rs. 450 crore. Debentures were issued at a slight premium, with a weighted average issue price of Rs. 1,02,183.94 per unit, and will be listed on BSE and NSE.
This NCD raise strengthens the company's long-term funding base at a competitive 8.03% coupon, which is favorable in the current rate environment. For shareholders, the dilution risk is nil since these are debt instruments, though higher interest obligations will impact future earnings. The successful Rs. 410 crore raise indicates investor confidence in the company's credit quality.