Realty firm DLF on Thursday said it has raised Rs 500 crore through the issue of non-convertible debentures (NCD) to investors. In a regulatory filing, DLF informed that the allotment committee has allotted 5000 senior, secured rated listed redeemable non-convertible debentures (NCDs) with a face value of Rs 10 lakh each.
The tenure of the NCDs is three years and the coupon rate is 8.25 per cent. The NCDs will be listed on the BSE.
Last week, a finance committee of the board of directors gave the approval to raise up to Rs 500 crore through the issue of NCDs on a private placement basis in one or more tranches to certain eligible investors.
The company did not disclose where it will use the proceeds of the issue.