Godrej Industries allots Rs 1,000 cr NCDs at 8.23 percent via private placement

GODREJIND · price

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₹1135.00

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₹1164.90

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AI summary

Godrej Industries has allotted 1,00,000 unsecured, listed NCDs (50,000 each in Series 1 and Series 2) via private placement, raising a total of Rs 1,000 crore. Each NCD has a face value of Rs 1 lakh. Both series carry an 8.23 percent annual coupon. Series 1 matures in September 2031 (63 months) and Series 2 in December 2031 (66 months). Proceeds will be used for business purposes, investments in body corporates, loan repayment, and general corporate needs. NCDs are listed on the NSE debt segment.

Likely market impact

No equity dilution as NCDs are non-convertible. Adds Rs 1,000 cr of debt at 8.23 percent, raising future interest and repayment obligations.