NLC India Ltd has decided to raise Rs. 525 crore through private placement of Secured, Non-Cumulative, Non-Convertible, Redeemable, Taxable Bonds (Series I of 2020) in the nature of Debentures at a coupon of 7.36% p.a. with a door to door maturity of 10 years, as per the bidding process held on 23.01.2020. The proceeds of the proposed issue will be utilized to replace the equity deployed in the projects and operation over the normative level by the debt, and for the purpose of corporate requirements of regular business activities. The bonds are proposed to be listed on both NSE & BSE. Security for these bonds will be duly created as per the requirements of and within the period of time prescribed under, the Companies Act and rules specified therein.
Shares of NLC India Ltd was last trading in BSE at Rs.55.55 as compared to the previous close of Rs. 57.4. The total number of shares traded during the day was 95559 in over 919 trades.
The stock hit an intraday high of Rs. 58.3 and intraday low of 54.15. The net turnover during the day was Rs. 5357868.