Lodha Developers Secures Rs 300 Crore for Expansion via Debentures

Real estate giant Lodha Developers has successfully raised Rs 300 crore through a private placement of debentures. The company's board approved the issuance of debentures, which carry a 7.96% interest rate and will mature in three years. These debentures will be listed on the BSE's Wholesale Debt Market.

Lodha Developers, a leading real estate firm in India, has raised Rs 300 crore by issuing debentures through private placement for its business expansion plans.

On Tuesday, the company announced in a regulatory filing that its Board of Directors' executive committee approved the allotment of non-convertible debentures totaling Rs 300 crore.

The debentures come with an interest coupon rate of 7.96% and will be redeemed at par after three years from the date of allotment, and they will be listed on the BSE's Wholesale Debt Market.

(With inputs from agencies.)