UltraTech Cement raises Rs 1,000 crore through NDCs

UltraTech Cement on Tuesday, January 5, 2021, said it has raised Rs 1,000 crore via allotment of non-convertible debentures (NDCs) on private placement basis.

Prior to this, on December 26, 2020, the company said it was considering a proposal to raise funds by issuance of 10,000 rated, listed, non-convertible, redeemable, unsecured NDCs of Rs 10,00,000 each which aggregates to Rs 1,000 crore on a private placement basis on or after December 30, 2020.

In a regulatory filing, they announced, “The company has approved the allotment of unsecured redeemable non-convertible debentures amounting to Rs 1,000 crore on private placement basis.”

The coupon rate of these NDCs is 4.57 per cent per annum and it will be listed on the National Stock Exchange of India. Lastly, the company released the tenure of the NDCs which is two years 358 days.

The shares of UltraTech Cement were trading at 0.79 per cent lower at Rs 5,284.80 apiece on BSE.

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