CESC Ltd to Raise Rs 250 Crore via Non-Convertible Debentures

CESC Ltd has announced its board's approval to raise Rs 250 crore through Non-Convertible Debentures (NCDs). The issuance involves 25,000 secured, unlisted, redeemable NCDs each valued at Rs 1 lakh. The allotment date is set for April 11. CESC operates in power generation, transmission, and distribution.

CESC Ltd has revealed plans to secure Rs 250 crore by issuing Non-Convertible Debentures (NCDs), according to a statement made on Monday. The issuance, as approved by the company's board, is scheduled with a deemed allotment date of April 11.

The company's Board of Directors' Committee has sanctioned the issuing of 25,000 secured, unlisted, redeemable, and rated NCDs, each worth Rs 1 lakh. These will be offered for cash at par, amounting to a Rs 250 crore raise through private placement.

Based in Kolkata, CESC is involved in the comprehensive chain of power generation, transmission, and distribution, utilizing this financial strategy to bolster its operations.

(With inputs from agencies.)