Godrej Industries' board approves plan to raise Rs 750 cr via NCDs

Godrej Industries on Tuesday said its board has approved a proposal to raise Rs 750 crore by issuing non-convertible debentures (NCDs).

The management committee its board of directors in a meeting held on Tuesday ''approved the placement memorandum/ information memorandum for issuance of up to 7,500 rated, listed, unsecured, redeemable, NCDs having a face value of Rs 10 lakh each, aggregating to Rs 750 crore on a private placement basis''.

Godrej Industries Ltd (GIL) is a holding company of the Godrej Group. It has significant interests in consumer goods, real estate, agriculture, chemicals and financial services through our subsidiary and associate companies, across 18 countries.

Shares of Godrej Industries on Tuesday settled at Rs 554.95 apiece on the BSE, up 0.19 per cent from the previous close.