Pidilite Industries to issue Non Convertible Debentures on Private Placement basis

Pidilite Industries Ltd has announced that the Company has on December 05, 2008 issued and allotted 750 Secured Redeemable Non Convertible Debentures of Rs 10 lacs each (NCDs) aggregating to Rs 75 crores on Private Placement basis to Banks/Insurance Companies/Mutual Funds. These NCDs bears Coupon Rate of 11.90% p.a. (payable annually) and are redeemable at the expiry of 5 years from the date of allotment.

The above NCDs are being listed in the Wholesale Debt Market Segment at National Stock Exchange of India Ltd.

The stock was trading at Rs.91.60, down by Rs.0.95 or 1.03%. The stock hit an intraday high of Rs.92 and low of Rs.89.

The total traded quantity was 1016 compared to 2 week average of 4108.

Source : Equity Bulls

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