Trent Ltd allots Listed Unsecured Redeemable Non-Convertible Debentures on a private placement basis

Trent Ltd has issued and allotted 3000 Listed Unsecured Redeemable Non-Convertible Debentures ("NCDs") of Rs.10 lakh each at par aggregating to Rs.300 Crores on a private placement basis. The NCDs will be listed on the Wholesale Debt Market segment of the National Stock Exchange of India Limited.

The proceeds of the issue will be primarily used to facilitate redemption of existing borrowings.

CARE has assigned a credit rating of "CARE AA" to the said instruments. Instruments with the rating "CARE AA" are considered to have high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.

These NCDs have been issued through a private placement offer letter cum information memorandum addressed specifically to certain eligible investors and which is not intended to be an advertisement, invitation, offer, sale or solicitation of an offer to the public at large for investing in the NCDs.

Shares of TRENT LTD. was last trading in BSE at Rs.1485.35 as compared to the previous close of Rs. 1489.15. The total number of shares traded during the day was 3573 in over 895 trades.

The stock hit an intraday high of Rs. 1514 and intraday low of 1465. The net turnover during the day was Rs. 5334449.

Source : Equity Bulls

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