Godrej Properties raises Rs 64.6 crore through the issue of debentures to investors on private placement. The NCDs have been allotted at a coupon rate of 8.50 per cent per annum.
Photograph: Kind courtesy Godrej
Mumbai, Sep 10 (PTI) Realty firm Godrej Properties has raised Rs 64.6 crore through the issue of debentures to investors on private placement.
In a regulatory filing on Tuesday, the company said a committee of the board approved the allotment of 6,460 Rated, Listed, Unsecured, Redeemable, Non-Convertible Debentures (NCDs) of the face value of Rs 1 lakh each, aggregating to Rs 64.6 crore to the identified investors on a private placement basis.
The NCDs have been allotted at a coupon rate of 8.50 per cent per annum. Interest will be paid annually and on maturity. The tenor of NCDs is 5 years.
Godrej Properties is one of the leading real estate developers in the country. It has a significant presence in Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, Bengaluru and Hyderabad markets.
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