Jindal Saw approves subscription of Rs 500 crore NCD

Jindal Saw ltd. announced on Thursday that it has approved the allotment to LIC for Rs 500 crore NCD.

Jindal Saw ltd. announced on Thursday that it has approved the allotment to LIC for Rs 500 crore Non-Convertible Debentures (NCD).

The New Delhi based company stated in its BSE regulatory filing, “This is with reference to the captioned subject and further to our letter dated November 2, 2020, we wish to inform you the Board of Directors in their meeting held today i.e. November 5, 2020, accepted the proposal of Life Insurance Corporation of India (LIC) for subscription of Listed, Rated, Secured, Redeemable Non-convertible Debentures (NCDs) aggregating to Rs. 500 Crores to be issued by the Company.”

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