Great Eastern Shipping to raise Rs 150 cr via NCDs

Great Eastern Shipping Company today announced that the debenture issue committee has approved raising up to Rs 150 crore via issuance of non- convertible debentures on private placement basis.

"The debenture issue committee at its meeting held today has approved the issue of 1,500 unsecured non-convertible debentures of Rs 10 lakh each aggregating to Rs 150 crore by way of private placement," Great Eastern Shipping said in a BSE filing.

Tenure of the NCDs will be 10 years and will carry coupon/interest rate of 8.25 per cent per annum.

The company has two main businesses --shipping and offshore.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)