Vedanta said its board-constituted Committee of Directors has approved the issuance of unsecured, rated, listed, redeemable non-convertible debentures (NCDs) on a private placement basis, aggregating up to Rs 3,000 crore. The proposed NCDs will be listed on BSE.
In the last 18 months, Adani group companies have raised around Rs 15,000 crore from domestic NCD offerings, with close to Rs 3,000 crore coming in from retail investors
Having a coupon rate of 11 percent, the tenure of the NCDs is for 3 years, 2 months and 30 days. The NCDs will mature on January 15, 2029.
Proceeds from the first 10-year NCD by a listed REIT to refinance debt
Adani Power board will consider a fundraising of up to Rs 5,000 crore via issue of NCDs, in its next meeting, along with Q2 FY25 financial results.
'The board has also constituted and authorised the Fund Raising Committee to take all necessary actions,' says Mankind Pharma
Adani Enterprises is offering eight series of NCDs carrying fixed coupons with a tenure of 24 months, 36 months and 60 months with annual, quarterly and at maturity interest options. Effective annual yield for NCDs ranges from 9.25 percent to 9.90 percent per annum.
On July 25, Adani Enterprises filed a draft prospectus with stock exchanges for raising Rs 600 crore through a public offer of non-convertible debentures. In May, the board of Adani Enterprises approved a proposal to raise up to Rs 16,600 crore through the QIP route.
MOFSL is offering eight series of NCDs carrying fixed coupons with a tenure of 24 months, 36 months, 60 months, and 120 months with annual, monthly and at-maturity interest payment options. Effective annual yield for NCDs ranges from 8.85 percent to 9.70 percent per annum.
The issue opened on April 10 and will close on April 25.
In a separate filing, the company said it has acquired 50 per cent of the paid-up equity capital and other securities/instruments of Siddhivinayak Realties Pvt Ltd under a share purchase agreement (SPA).
The issue opened for public subscription from Friday and will be open till January 25, the company said.
The NCDs offer coupons in the range of 8.21-9.66 percent per annum and are available in tenors of 18, 24, 36, and 60 months with monthly and annual interest payment options across eight series.
The committee of the board of directors at its meeting approved the allotment of 10,000 secured, unlisted, redeemable, rated non-convertible debentures having a face value of Rs 1,00,000 each aggregating to Rs 100 crore on a private placement basis to Axis Bank Limited, CESC said in a regulatory filing.
In a regulatory filing on September 21, DLF informed that the DLF Cyber City Developers Ltd (DCCDL) board has approved the allotment of debentures.
Vedanta had earlier said that the fundraising is a part of its routine refinancing that is undertaken in the ordinary course of business.
The company's board of directors will consider approving the issuance of NCDs on September 25.
The base size of the issue is Rs 100 crore with a green shoe option of Rs 300 crore; it will close on September 14.
Three rating agencies have accorded it AAA ranking. This is rare for an NCD issue. Retail investors with moderate risk appetite should subscribe to the issue.