Godrej Industries to raise Rs 1,000 crore through private placement bonds
Godrej Industries, a subsidiary of Godrej Group, has announced plans to raise Rs 1,000 crore through the issuance of bonds on a private placement basis. The management committee of the board of directors of the company approved the placement memorandum for the issuance of up to one lakh rated, listed, unsecured, redeemable, NCDs (Non-Convertible Debentures) with a face value of Rs one lakh only each.
The issue is divided into two tranches of 25,000 NCDs with a face value of Rs 1 lakh each. The nominal value of each series is up to Rs 250 crore with an option to retain over-subscription up to Rs 250 crore, aggregating up to Rs 500 crore.
Godrej Industries has a diverse range of businesses in Oleochemicals, surfactants, finance & investments and estate management, and has substantial interests in several industries such as property development, oil palm plantation, animal feeds and agri-products, poultry, personal care and household care, etc., through its subsidiaries, associate companies and joint ventures.
This move will help Godrej Industries to expand its operations and invest in new projects. With this announcement, investors can look forward to a bright future for the company and the potential for high returns on their investment.
About Godrej Industries:
Godrej Industries, which belongs to the Godrej Group’s holding companies, is a top producer of oleochemicals when considered independently. Additionally, it is the promoter of both Godrej Agrovet Ltd and Godrej Properties Ltd, and holds a stake in Godrej Consumer Products Ltd.
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