Nuvoco Vistas Corporation Limited has informed the Exchange about General Updates

Nuvoco Vistas informed the exchanges that its wholly-owned subsidiary Vadraj Cement has allotted 30,000 unsecured, unlisted compulsorily convertible debentures (CCDs) of face value Rs 1,00,000 each, raising a total of Rs 300 crore. The CCDs, split into three series of 10,000 each (B1, B2, B3), were issued via preferential allotment on a private placement basis to 4 investor groups including Alpha Alternatives Financial Services, Third Edge Advisors LLP, Trust Investment Advisors, and Ncube Ventures LLP. Each CCD will convert into 2,604 equity shares of Vadraj (face value Rs 10), and the conversion is automatic upon the earlier of Vadraj filing a red herring prospectus for an IPO or 7 years from allotment. Since this is at the subsidiary level, it does not directly raise capital for the listed entity Nuvoco Vistas.