New Delhi: Godrej Properties, a real estate company, has obtained Rs 64.6 crore by issuing debentures to private investors. According to a regulatory filing on Tuesday, the company's board committee has authorized the issuance of 6,460 Rated, Listed, Unsecured, Redeemable, Non-Convertible Debentures (NCDs) worth Rs 1 lakh each, totaling Rs 64.6 crore to specific investors through private placement.
The NCDs were assigned with a annual coupon rate of 8.50 per cent. Interest will be paid yearly and upon reaching maturity. NCDs have a tenor of 5 years. Godrej Properties stands out as a top real estate developer in the nation. It has a strong foothold in the markets of Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, Bengaluru, and Hyderabad.
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