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
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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