Realty firm DLF plans to raise up to Rs 500 crore through issue of non-convertible debentures (NCD) to investors.
In a regulatory filing, DLF informed that a finance committee, constituted by the board of directors, on Wednesday approved the company’s proposal.
The panel gave nod to "issuance of secured rated listed redeemable non convertible debentures (NCDs) at a coupon rate of 8.25 percent with an aggregate principal amount of up to Rs 500 crore on a private placement basis in one or more tranches to certain eligible investors.”
The company did not disclose where it will utilise the proceeds of the proposed issue.
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