VA Tech Wabag Ltd approves NCD issue for Rs. 100 crores

The board of directors of VA Tech Wabag Limited (the "Company") vide the circular resolution dated August 18, 2023 has approved the allotment of 100,000 (one hundred thousand) secured, unlisted, redeemable, transferable, rated and interest bearing non-convertible debentures, having a face value of INR 10,000 (Indian Rupees Ten Thousand) each, and an aggregate face value of INR 100,00,00,000/- (Indian Rupees One Thousand Million only) ("NCDs") (comprising the series 1 NCDs) to Asian Development Bank (ADB) at par, in dematerialized form on a private placement basis.

The said fund raising by way of NCDs are as part of the Company's continuous strategic efforts towards debt optimization.

Shares of VA Tech Wabag Limited was last trading in BSE at Rs. 498.50 as compared to the previous close of Rs. 509.80. The total number of shares traded during the day was 41482 in over 1540 trades.

The stock hit an intraday high of Rs. 516.85 and intraday low of 496.00. The net turnover during the day was Rs. 21003216.00.

Source : Equity Bulls

Keywords

VATechWabag INE956G01038 FundRaising NCDs