VA Tech Wabag Ltd to raise Rs. 200 crores through NCDs

The Board of Directors of VA Tech Wabag Ltd at their meeting held today i.e., Friday, November 25, 2022 discussed the various options towards optimizing the quantum and cost of debt of the Company including low cost and long term options.

The Board after deliberations considered and approved the proposal for fund raising by way of issue of Non-Convertible Debentures (NCD) upto INR 200,00,00,000/- (Indian Rupees Two Hundred Crores only) in one or more tranches / series to Asian Development Bank ("ADB") on a private placement basis, as may be permitted under applicable laws, subject to necessary approvals, permissions, consents and sanctions as may be required.

The Board also placed on record its appreciations in regards to the management's continuous efforts towards debt optimization and mentioned that this NCD proposal will further contribute to the same.

Shares of VA Tech Wabag Limited was last trading in BSE at Rs. 312.00 as compared to the previous close of Rs. 306.70. The total number of shares traded during the day was 12941 in over 756 trades.

The stock hit an intraday high of Rs. 314.55 and intraday low of 308.40. The net turnover during the day was Rs. 4029309.00.

Source : Equity Bulls

Keywords

VATechWabag INE956G01038 FundRaising NCDs INR200Crores