The real estate builder has said that the funds raised from this issuance will be utilised for general corporate purposes of the Company. The Debentures will be listed on BSE Limited and its tenure shall be a period of 10 years, unless redeemed earlier.
The Board of Directors of Kolte-Patil Developers on Monday approved allotment of 20,650 redeemable non-convertible debentures (NCDs) to Marubeni Corporation, Japan. The company will be issuing NCDs of face value Rs 1 lakh each on a private placement basis to the Marubeni Corporation.
Kolte Patil in a regulatory filing on brokerages said, "Board of Directors of Kolte-Patil Developers Limited at their meeting held on Monday, 17 April 2023, approved allotment of 20,650 senior, secured, listed, rated, redeemable non-convertible debentures ("Debentures”) of face value Rs. 1,00,000/- each, on a private placement basis, aggregating to Rs. 206,50,00,000/- (Rupees Two Hundred Six Crores and Fifty Lakhs Only) to Marubeni Corporation, Japan."
The real estate builder has said that the funds raised from this issuance will be utilised for general corporate purposes of the Company.
The Debentures will be listed on BSE Limited and its tenure shall be a period of 10 years, unless redeemed earlier.
Shares of Kolte-Patil Developers ended 0.31 percent higher at Rs 255 per share on NSE today.
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