Meghmani Organics raises Rs.100 Crores through Non Convertible Debenture Issue

Meghmani Organics Limited (MOL) has raised Rs.100 crores through private placement of Secured Redeemable Non-Convertible Debentures ('NCDs') of Rs.10,00,000/- each in form of Separately Transferable Redeemable Principal Parts (STRPPs) of the face value of Rs.1,00,000/- each at par.

Ms. Deval Soparkar, Head Corporate - Communication informed that the issue proceeds will be used for augmenting medium to long term resources of the company including regular capital expenditure. She further informed that the tenure of the NCD is 5 years and they will be listed on Wholesale Debt Market (WDM) segment of BSE.

The stock was trading at Rs.20.10, down by Rs.0.40 or 1.95%. The stock hit an intraday high of Rs.20.70 and low of Rs.20.05.

The total traded quantity was 2.87 lakhs compared to 2 week average of 6.75 lakhs.

Source : Equity Bulls

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