Meerut Budaun Expressway Ltd raises funds through NCDs

Meerut Budaun Expressway Limited ("MBEL") i.e. Ganga Expressway Project SPV, an associate of the Company, on June 14, 2024, has allotted Indian-rupee denominated unlisted, unsecured, redeemable, non-convertible debentures ("NCDs") aggregating to INR 127.73 Crore on a private placement basis to the Company and GIC affiliate.

The Company and GIC affiliate have contributed INR 65.14 Crore and INR 62.59 Crore respectively.

Source : Equity Bulls

Keywords

MeerutBudaunExpressway GangaExpresswayProjectSPV FundRaising NCDs GICAffiliate IRBInfrastructureDevelopers