Aditya Birla Renewables Limited (ABReL), a wholly owned subsidiary of Grasim Industries Limited, has raised Rs 25 billion through the allotment of non-convertible debentures (NCDs) on private placement basis.
The company allotted 250,000 unsecured, listed, rated, redeemable NCDs with a face value of Rs 100,000 each. The total amount raised includes a base issue size of Rs 20 billion and a green shoe option to retain oversubscription of up to Rs 5 billion. The NCDs will have coupon rate of 8.60 per cent per annum and
will be redeemed upon completion of 3 years from the date of allotment.