UltraTech Cement Plans To Raise Rs 5,000 Cr From Market

New Delhi: UltraTech Cement on Thursday said it is planning to raise up to Rs 5,000 crore through issuance of non-convertible debentures (NCDs) on a private placement basis.

The Finance Committee of the board approved a proposal to raise funds by issuance of up to 5,00,000 non-convertible, non-cumulative debentures of Rs 1,00,000 each, it said in a BSE filing.

Further details regarding the tenure, coupon rate and timeline of the tranches are awaited.

Earlier this week, UltraTech Cement reported a jump of 17.23 per cent in June quarter consolidated net profit at Rs 2,603.72 crore and 15.85 per cent rise in revenue from operations at Rs 24,648.20 crore.

UltraTech leads the cement industry with a total grey cement capacity of 205.5 MTPA and white cement/putty capacity of 3.2 MTPA.

It is also planning to foray into the cables and wires business this fiscal.

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