IndoStar Capital Finance Limited approves NCD issue of Rs. 500 crores

The Board of Directors of IndoStar Capital Finance Limited at its meeting held on Monday, 8 January, 2024, considered and approved issue of listed, rated, secured, redeemable, non-convertible debentures ("NCDs"), aggregating up to ₹ 500 crore (Rupees Five hundred crore) in one or more series / tranches including option of oversubscription (Greenshoe Option), if any, to investors eligible under applicable law by way of public issue ("the Public Issue"), which is within the limit approved by the Board of Directors of the Company at their meeting held on 11 February 2022.

The Board of Directors further constituted Debt - Public Issue Committee to finalise and approve, inter alia, key terms and conditions with respect to the Public Issue, offering documents, date of allotment and basis of allotment and other related matters.

Shares of IndoStar Capital Finance Limited was last trading in BSE at Rs. 175.25 as compared to the previous close of Rs. 172.90. The total number of shares traded during the day was 19966 in over 140 trades.

The stock hit an intraday high of Rs. 181.50 and intraday low of 173.30. The net turnover during the day was Rs. 3546432.00.

Source : Equity Bulls

Keywords

IndoStarCapitalFinance INE896L01010 FundRaising NCDs