CESC to raise Rs 400cr via NCD

RP Sanjiv Goenka group's flagship company CESC Ltd on Tuesday said its board has approved a plan to raise Rs 400 crore through unsecured non-convertible debentures (NCDs) on a private placement basis.

The tenure of the NCDs is of five years and the interest rate will be linked to treasury bill rates.

'' ...the committee of the board, at its meeting held today, has approved the issue of 4,000 redeemable, rated, senior, secured, unlisted non-convertible debentures having a face value of Rs 10 lakh each for cash at par aggregating to Rs 400 crore, on a private placement basis,'' the company said in a regulatory filing.

The group recently hived off its entire 156-MW wind power assets to Torrent Power at Rs 790 crore.