Godrej Properties plans to raise up to Rs 1,000 cr through NCDs
New Delhi: Godrej Properties Ltd (GPL) plans to raise up to Rs 1,000 crore. It will be done through issuance of Non-Convertible Debentures (NCDs). The Board of GPL met on 28 July 2020 and approved the company raising the money.
Up to 10,000 unsecured, rated, redeemable and listed NCDs can now be issued by the company having a Rs 10 lakh each. The NCDs can be issued on private placement basis.
“The tenure of NCDs shall be 3 years from the deemed date of allotment and NCDs are proposed to be listed on wholesale debt market segment of BSE Ltd,” the company said in a regulatory filing.