Board approves Rs 100 Crore NCD issue via private placement

Board & Shareholder Meetings View source PDF

Price reaction · full curve

Awaiting price reaction for this filing.

AI summary

Ballarpur Industries board approved issuance of 100 listed, rated, unsecured non-convertible debentures at Rs 1 crore face value each, totaling Rs 100 crores, via private placement. Tenure 3 years, 0% coupon, 9% annual IRR on redemption. Issue in one or more tranches, to be listed on BSE and/or NSE.

Likely market impact

Company raises Rs 100 crore via 3 year debt. No equity dilution but adds to debt obligations. Zero coupon means low near-term interest outflow.