Motilal Oswal to Raise Rs 1,000 Cr via NCDs
By Rediff Money Desk, NEWDELHI Apr 15, 2024 17:25
Motilal Oswal Financial Services plans to raise up to Rs 1,000 crore through the issuance of non-convertible debentures (NCDs). The NCDs will have fixed coupons and maturities ranging from 24 to 120 months.
![Motilal Oswal to Raise Rs 1,000 Cr via NCDs](https://im.rediff.com/money/2018/jan/04rupee.jpg)
New Delhi, Apr 15 (PTI) Motilal Oswal Financial Services on Monday said it plans to raise up to Rs 1,000 crore by issuing non-convertible debentures (NCDs) through public issue.
The company proposes to raise through the Secured Redeemable Non-Convertible Debentures (NCDs) of the face value of Rs 1,000 each for an amount up to Rs 500 crore (Base Issue Size), with a green shoe option of up to Rs 500 crore, cumulatively aggregating up to Rs 1,000 crore.
There are eight series of NCDs carrying fixed coupons and having a tenure of 24 months, 36 months, 60 months, and 120 months with annual, monthly and at maturity interest options.
Effective annual yield for NCDs ranges from 8.85 per cent to 9.70 per cent per annum, Motilal Oswal Financial Services said in a regulatory filing.
At least 75 per cent of the funds raised through this issue will be used for the purpose of meeting working capital requirement and repayment of existing liabilities and the balance amount would be utilised for general corporate purposes, it said.
The company proposes to raise through the Secured Redeemable Non-Convertible Debentures (NCDs) of the face value of Rs 1,000 each for an amount up to Rs 500 crore (Base Issue Size), with a green shoe option of up to Rs 500 crore, cumulatively aggregating up to Rs 1,000 crore.
There are eight series of NCDs carrying fixed coupons and having a tenure of 24 months, 36 months, 60 months, and 120 months with annual, monthly and at maturity interest options.
Effective annual yield for NCDs ranges from 8.85 per cent to 9.70 per cent per annum, Motilal Oswal Financial Services said in a regulatory filing.
At least 75 per cent of the funds raised through this issue will be used for the purpose of meeting working capital requirement and repayment of existing liabilities and the balance amount would be utilised for general corporate purposes, it said.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.93 ( -4.87)
- 226206286
- IFL Enterprises
- 1.30 (+ 4.84)
- 81461564
- Vodafone Idea L
- 16.79 (+ 0.66)
- 67447398
- NCL Research
- 0.95 ( -4.04)
- 31996628
- Franklin Industries
- 3.73 (+ 3.32)
- 21511209
MORE NEWS
![Navi Mumbai...](https://im.rediff.com/80-80/money/2021/jun/10navi-mumbai-airport7.jpg)
Navi Mumbai Airport ILS Signal Testing Begins
The Airports Authority of India (AAI) has begun ILS signal testing at the...
![Air India VRS for...](https://im.rediff.com/80-80/money/2020/sep/09tata-vistara-3.jpg)
Air India VRS for Non-Flying Staff Ahead of...
Air India has announced a voluntary retirement scheme (VRS) and voluntary separation...
Fisher Groups Oppose WTO Fisheries Subsidy Talks
Small-scale fisher groups from India, Indonesia, and Bangladesh demand WTO keep...