Stock Report

Balkrishna Industries Ltd approves allotment of NCDs for Rs. 500 crore

Posted On : 2021-10-28 12:20:18( TIMEZONE : IST )

Balkrishna Industries Ltd approves allotment of NCDs for Rs. 500 crore

At its meeting held today, 28thOctober, 2021, the Finance Committee constituted by Board of Directors of the Company has approved the allotment of 5,000 (Five Thousand) rated, listed, unsecured, redeemable, non-convertible debentures having a face value of INR 10,00,000 (Indian Rupees Ten Lakhs Only) each, aggregating to INR 500,00,00,000 (Indian Rupees Five Hundred Crores only) to the investors identified by the Finance Committee at its earlier meeting held on 26th October, 2021.

Pursuant to the Board Resolution passed by Board of Directors on 25thSeptember 2021, the Board empowered the Company's Management to opt for long term finance. The Finance Committee has allotted Rated, Listed, Unsecured, Redeemable, Non-Convertible Debentures of the aggregate value of Rs. 500 Crore with a face value of Rs. 10 Lakh per debenture. The interest rate coupon for the debentures is fixed @5.67% per annum for the entire tenure and will be payable semi-annually. The final maturity date of the debentures is 25thApril 2025. In order to leverage the interest rate scenario and Euro receivables of the Company, the Company has swapped the Debentures liability to Euro fixed liability whereby the effective coupon for the Company will be 0.055% per annum.

Shares of Balkrishna Industries Limited was last trading in BSE at Rs. 2485.55 as compared to the previous close of Rs. 2488.55. The total number of shares traded during the day was 82776 in over 978 trades.

The stock hit an intraday high of Rs. 2519.50 and intraday low of 2480.05. The net turnover during the day was Rs. 206037118.00.

Source : Equity Bulls


BalkrishnaIndustries INE787D01026 BALKRISIND AutoTyres RubberProducts FundRaising NCDs