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Godrej Properties to raise Rs. 1,000 crore via NCD issue

Realty firm Godrej Properties on Monday said that the Board of Directors of the company have approved Rs. 1, 000 crore of fundraising through issuance of non-convertible debentures (NCDs) in one or more tranches. 

In a regulatory filing, the company said, β€œ The Board of Directors at the meeting held on May 11, 2020, have approved raising of funds, by issue of listed / unlisted, secured / unsecured Non-convertible Debentures (NCDs) including but not limited to subordinate debentures, bonds and/or other debt securities on private placement basis, in one or more tranches, for an amount not exceeding Rs. 1,000 Crore (Rupees Thousand Crore Only).”

β€œThe Board also authorized a Committee of Directors to determine and approve the quantum, timing and terms and conditions of the NCDs, subordinate debentures, bonds and/or other debt securities,” it added. 

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