UltraTech Cement to raise Rs 500 crore via debentures

NEW DELHI: UltraTech Cement is looking to raise Rs 500 crore through issuance of secured redeemable non-convertible debentures (NCDs) on private placement basis.

The proposed issue of Rs 500 crore debentures will be listed on National Stock Exchange with deemed date of allotment on August 22, 2016, the company said in a BSE filing on Thursday.

According to the statement, these debentures will mature on August 21, 2026. The company will offer coupon/interest rate of 7.53 per cent per annum on these debentures.