Grasim Industries to raise up to Rs 1,000 cr through NCDs

New Delhi, Apr 1 (PTI) Grasim Industries Ltd on Wednesday said its board has approved raising up to Rs 1,000 crore through issuance of NCDs on private placement basis. The fund will be raised in one or more tranches, the Aditya Birla Group firm said in a regulatory filing.

“The Finance Committee of the Board of Directors of the Company at its meeting held today, inter alia, considered and approved issue of Non-Convertible Debentures (NCDs) on private placement basis, for an amount not exceeding Rs 1,000 crore, in one or more tranches,” it said. Grasim Industries is a leading manufacturer in cement, viscose staple fibre and chemicals.

For 2018-19, the company had reported a revenue of Rs 20,550.43 crore. Shares of Grasim Industries on Wednesday settled at Rs 474.55  apiece on the BSE, down 0.18 per cent from previous close.