Lodha Developers Secures Rs 500 Crore Via Debentures

Lodha Developers Ltd has raised Rs 500 crore by issuing 50,000 non-convertible debentures on a private placement basis. The debentures, priced at Rs 1 lakh each, carry an interest rate of 8.52% per annum. The company focuses on real estate projects in major Indian cities including Mumbai, Pune, and Bengaluru.

Lodha Developers Ltd, a prominent real estate firm, announced on Monday the successful raising of Rs 500 crore through debenture issuance.

In its regulatory filing, Lodha detailed that the board approved the allocation of 50,000 non-convertible debentures (NCDs), each valued at Rs 1 lakh, as part of a private placement.

The issued debentures come with an annual interest rate of 8.52%, payable semi-annually. Lodha maintains a robust presence in Mumbai, Pune, and Bengaluru, and it recently acquired land in Delhi-NCR for residential development.

(With inputs from agencies.)