Godrej Properties raises Rs 1,160 crore through issue of NCDs on private placement basis, ET RealEstate
NEW DELHI: Godrej Properties has raised Rs 1,160 crore through issue of non-convertible debentures (NCDs) on private placement basis, the company said in a BSE filing.
The board of directors of Godrej Properties approved allotment of series I debentures- 1,00,000 rated listed unsecured redeemable non-convertible debentures of the face value of Rs. 1 lakh each, aggregating to Rs 1,000 crore and series II debentures – 16,000 rated listed unsecured redeemable non-convertible debentures of the face value of Rs 1 lakh each, aggregating to Rs. 160 crore to the identified investors on a Private Placement basis.
The Rs 1,000 crore NCDs comprise of base issue -Rs. 40,000 rated listed unsecured redeemable non-convertible debentures of face value of Rs. 1 lakh each, aggregating to Rs 400 crore and green shoe option – 60,000 rated listed unsecured redeemable non-convertible debentures of face value of Rs 1 lakh each, aggregating to Rs 600 crore.
The coupon is offered at fixed rate of 8.3% per annum and date of maturity for this is March 19, 2027.
The Rs. 500 crore NCDs comprise of base issue – 10,000 rated listed unsecured redeemable non-convertible debentures of face value of Rs 1 lakh each, aggregating to Rs 100 crore and green shoe option – 40,000 rated listed unsecured redeemable non-convertible debentures of face value of Rs 1 lakh each, aggregating to Rs 400 crore.
The coupon is offered at fixed rate of 8.5% per annum and date of maturity is September 20, 2028.
ICRA has given [ICRA] AA+ (Stable) ratings to both the debentures while India Ratings has given IND AA+/Stable ratings to both the debentures.
