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, and rupee denominated. These debentures are specifically non-convertible and non-cumulative.
Key details regarding the planned NCD issuance include:
| Feature | Detail |
|---|---|
| Maximum Debenture Count | 5,00,000 |
| Denomination per Debenture | Rs. 1,00,000/- |
| Aggregate Funding Target | Up to Rs. 5,000 crores |
| Type of Issuance | Non-Convertible |
| Placement Method | Private Placement (in tranches) |
ULTRACEMCO Stock Price Movement
As of 11:10 AM, shares of UltraTech Cement Limited are rising slightly to ₹11900, climbing 0.06% in live trading. The stock has seen active buying interest with 114,490 shares traded so far today.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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