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Business News/ Companies / Trent plans to raise up to Rs300 crore via NCDs
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Trent plans to raise up to Rs300 crore via NCDs

The board of directors has approved the sub-division of equity shares of Trent having a face value of `10 per share into equity shares having a face value of `1 each

Trent says the issue of NCDs is subject to the approval of shareholders. Photo: MintPremium
Trent says the issue of NCDs is subject to the approval of shareholders. Photo: Mint

New Delhi: Tata group retail firm Trent Ltd is planning to raise up to 300 crore through issuance of non-convertible debentures on a private placement basis, the company said on Tuesday.

“The board approved an enabling resolution for raising of funds by issue of non-convertible debentures (NCDs) on a private placement basis up to an amount not exceeding 300 crore. The issue of NCDs is subject to the approval of shareholders," Trent Ltd said in a BSE filing.

It further said the board of directors has also approved the sub-division of equity shares of the company having a face value of 10 per share into equity shares having a face value of 1 each.

“The sub-division of equity shares is subject to approval of shareholders and statutory approvals," it added. Shares of Trent closed 5.28% higher at 1,768.10 on BSE.

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Published: 28 Jun 2016, 08:29 PM IST
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