HeidelbergCement India Ltd allots 370 NCDs worth Rs. 37 crore

The Board of Directors of HeidelbergCement India Ltd at its meeting held December 16, 2013, inter alia, has allotted 370 numbers INR denominated, rated, listed, unsecured, redeemable, non-convertible debentures of INR 10 million each ("Debentures") aggregating to INR 3700 million, on private placement basis, to HeidelbergCement AG of Germany, a Qualified Foreign Investor (QFI) to facilitate repayment of expensive INR term loans taken from banks. The Debentures are to be listed on the Wholesale Debt Market Segment of the Bombay Stock Exchange, in terms of applicable laws, including the relevant SEBI circulars, which specifically allow Indian companies to issue "to be listed" non-convertible debentures to QFIs through private placement.

Shares of HeidelbergCement India Ltd was last trading in BSE at Rs.37.10, up by Rs.0.60 or 1.64%. The stock hit an intraday high of Rs.37.50 and low of Rs.36.65.

The total traded quantity was 0.28 lakhs as compared to 2 week average of 0.52 lakhs.

Source : Equity Bulls

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