Sobha plans to raise up to Rs1,000 cr through non-convertible debentures

Sobha Ltd's board approved raising up to Rs 1,000 crore through privately placed non-convertible debentures in one or more tranches. The investments and borrowings committee has been authorised to determine commercial terms including tenure, coupon rate and structure. The company did not specify the purpose of the fund raise, which adds another financing avenue amid continued capex on residential projects.