Allotment of 1,00,000 - 6.56% Fully paid, Rated, Listed, Unsecured, Redeemable Non-Convertible Debentures of Rs. 1 lakh each
GRASIM · price
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On the reaction day the stock moved 0.5 pts less than Nifty 100 and 0.2 pts less than its Cement & Cement Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Grasim Industries has allotted 1,00,000 Non-Convertible Debentures (NCDs) of face value ₹1 lakh each, raising ₹1,000 crore in total on a private placement basis. The NCDs carry a coupon (interest) rate of 6.56% per annum, payable annually, and have a 5-year tenure maturing on 6th June 2030. The instruments are rated AAA with a Stable outlook by both ICRA and CRISIL, indicating the highest credit quality. They will be listed on the Wholesale Debt Market segment of BSE. The NCDs are unsecured and will be redeemed at par on maturity, with a 2% additional interest penalty in case of payment delays.
This is a debt-raising move with no equity dilution, as NCDs are not convertible to shares. The AAA rating and moderate 6.56% coupon suggest strong creditworthiness and low borrowing cost, which is positive for the company's balance sheet. For shareholders, this means increased debt but with manageable servicing costs, and the proceeds are likely aimed at funding growth, capex, or refinancing existing borrowings.