Emami Realty to raise up to Rs 400 cr via debentures

Emami Realty Ltd on Friday said it plans to raise up to Rs 400 crore through issue of debentures on private placement basis. In a regulatory filing, the company said its board has approved issue of "Unlisted, Redeemable, Non-Convertible Debentures ("NCDs") upto Rs 400 crore on private placement basis."

The company has signed term sheet for issue of NCDs, it added. The debentures would be issued at 12 per cent coupon rate with maturity at 15 months from the date of allotment.

Emami Realty is the real estate arm of the Emami Group, which is also present in sectors like FMCG, healthcare, cement and paper.

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