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Kesoram’s Rs 2,063 cr debt raising via NCDs and OCDs at stiff coupon rates

KOLKATA: BK Birla Group firm, , on Tuesday stated that it has accomplished elevating near Rs 2,063 crore via NCDs and OCDs to a non-public placement.

That is aside from debt decision with the bankers carried out not too long ago the place the ailing cement maker transformed Rs 144 crore mortgage into fairness, and in addition issued zero coupon optionally convertible redeemable desire shares to a mortgage of Rs 449 crore.

The corporate knowledgeable bourses that it has additionally raised Rs 1,603 crore through NCDs with maturity in February 2026, and optionally convertible debentures amounting to Rs 459 crore.

The yield is in extra of 20 per cent for NCDs and the proposed securities are rated D by

.

The restructuring is anticipated to ease the liquidity for the corporate and assist turnaround however might show expensive to the administration if the corporate fails to generate sufficient money circulation from operations.

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