Hindalco Industries launches a 700 crore NCD public offering.

On January 18, Hindalco Industries Ltd. launched the public offering of non-convertible debentures (NCDs) in the amount of Rs. 700 crore.
According to a regulatory filing, the capital raising committee has approved the private placement of 70,000 rated, listed, unsecured, redeemable, non-convertible debentures (NCDs) worth $1,000,000. This represents an annual interest rate of 7.60 percent.
According to the company, the debentures will be redeemed at par on January 18, 2023, which is 14 months from the date of allotment. The 18th of March 2014 has been set as the redemption or maturity date.

This news is written by Ms. Amrita Singh, Research Assistant, All India Legal Forum.