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| Exchange Received Time 27/06/2018 13:51:57 Exchange Disseminated Time 27/06/2018 13:52:03 Time Taken 00:00:06 | Dear Sirs,
Pursuant to the provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of the Company has, at its meeting held today, decided to obtain approval of the shareholders of the Company through Postal Ballot for issuance of Redeemable Non-Convertible Debentures (NCDs) on private placement basis upto an amount of Rs. 350 Crore. The proposed issue has been rated AA Stable by CRISIL as compared to AA- Stable for earlier NCD issue of Rs. 495 Crore by India Ratings. The proceeds would be mainly utilised for repayment of the existing debt and to reduce the overall cost of borrowing.
The Board meeting commenced at 12.30 p.m. and concluded at 1.45 p.m.
We request you to take the same on record. |
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