Godrej Industries' board of directors apporved a proposal to raise Rs 750 crore via issue of non-convertible debentures (NCDs). The management committee of the company stated after a meeting held on Tuesday. The statement read, "approved the placement memorandum/ information memorandum for issuance of up to 7,500 rated, listed, unsecured, redeemable, NCDs having a face value of Rs 10 lakh each, aggregating to Rs 750 crore on a private placement basis".
Godrej Industries Ltd (GIL) is a holding compamy of the Godrej Group. GIL has interests in consumer goods, real estate, agriculture, chemicals and financial services.
At market close, shares of Godrej Industries settled at Rs 554.95 apiece on the BSE, up 0.19% from the previous close.