Birla Corporation Limited board approves issue of NCDs

The Board of Directors of Birla Corporation Limited at its Meeting held today i.e. 22nd May, 2020 has considered and approved issue of Secured / Unsecured Redeemable Non-Convertible Debentures (including Bonds) aggregating upto Rs. 300 crores (Rupees three hundred crores only) on private placement basis in one or more tranches, within the overall borrowing limits of the Company, as approved by the members, from time to time, within a period of one year.

The board also approved premature redemption (buy back) of the part/full secured Non-Convertible Debentures (NCDs) (issued in different series) including amendment to the related Information Memorandum and other relevant documents executed in respect of the said NCDs issued by the Company and change in the terms of NCDs wherever required. The proposed amendments to the terms of NCDs shall be subject to approval of the Debenture holders, Debenture Trustee and BSE Limited.

Shares of BIRLA CORPORATION LTD. was last trading in BSE at Rs.405.75 as compared to the previous close of Rs. 411.45. The total number of shares traded during the day was 11852 in over 1034 trades.

The stock hit an intraday high of Rs. 420 and intraday low of 400.5. The net turnover during the day was Rs. 4822349.

Source : Equity Bulls

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