West Coast Paper Mills raises Rs 65 crores from Axis Bank

West Coast Paper Mills Ltd has announced that the Company has issued on March 30, 2009 650 nos. 12.5% per annum Secured Redeemable Non-Convertible Debentures (the "SRNCDS) of a face value of Rs 10,00,000/- each amounting to Rs 65,00,00,000/- (Rupees Sixty Five Crores only) to Axis Bank Ltd., Mumbai, on private placement basis.

The term of the SRNCDS will be four years door-to-door with repayment in 8 equal quarterly instalments, commencing from the end of the 9th quarter from the date of allotment.

The stock closed the day at Rs.36.80, down by Rs.0.70 or 1.87%. The stock hit an intraday high of Rs.38 and low of Rs.36.50.

The total traded quantity was 3938 compared to 2 week average of 12972.

Source : Equity Bulls

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