UltraTech Cement Limited Board Approves Massive Fundraising Through Non-Convertible Debentures
UltraTech Cement Limited has approved a significant fundraising initiative through its debt market, following approval by its Finance Committee. The company has greenlit a proposal to raise funds via the issuance of up to 5,00,000 non-convertible debentures (NCDs).The decision allows UltraTech Cement to raise capital through private placement in one or more tranches. These instruments are set to be fully paid, listed, and rated, covering a maximum aggregation of Rs. 5,000 crores.As per the board's approval, the debentures will have a face value of Rs. 1,00,000/- each and possess several key features, including being unsecured, redeemable...