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Last Updated : Mar 08, 2018 12:38 PM IST | Source: CNBC-TV18

Company will generate cash surplus for next two years: Sanghi Ind

Sanghi Industries’ board has approved issuing non-convertible debenture (NCD) as part of their fund-raising plans. In an interview with CNBC-TV18, Bina Engineer, the Director of Sanghi Industries spoke about the latest happenings in her company and sector.

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Sanghi Industries’ board has approved issuing non-convertible debenture (NCD) as part of their fund-raising plans. In an interview with CNBC-TV18, Bina Engineer, the Director of Sanghi Industries spoke about the latest happenings in her company and sector.

2016 we had raised NCD at 15.5 percent for the equal amount. The old NCDs were carrying a cost of 15.5 percent and new NCDs are carrying a coupon of about 10.5 percent, she said.

Primary the objective was to redeem the debt and this is not an additional debt, she added.

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Company is well-funded for the capacity expansion plan, said Engineer.

Company will generate a cash surplus for the next two years, she further mentioned.

For full interview, watch accompanying video…

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First Published on Mar 8, 2018 12:37 pm

tags #Business

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