Lodha Developers Secures Rs 500 Crore Via Debentures
Lodha Developers Ltd has raised Rs 500 crore by issuing 50,000 non-convertible debentures on a private placement basis. The debentures, priced at Rs 1 lakh each, carry an interest rate of 8.52% per annum. The company focuses on real estate projects in major Indian cities including Mumbai, Pune, and Bengaluru.
- Country:
- India
Lodha Developers Ltd, a prominent real estate firm, announced on Monday the successful raising of Rs 500 crore through debenture issuance.
In its regulatory filing, Lodha detailed that the board approved the allocation of 50,000 non-convertible debentures (NCDs), each valued at Rs 1 lakh, as part of a private placement.
The issued debentures come with an annual interest rate of 8.52%, payable semi-annually. Lodha maintains a robust presence in Mumbai, Pune, and Bengaluru, and it recently acquired land in Delhi-NCR for residential development.
(With inputs from agencies.)
Advertisement
ALSO READ
Pune Police issue 'Leave India Notice' to three US Nationals for alleged religious preaching on tourist visas
Mumbai, Pune drive warehousing surge; Delhi-NCR sees sharp dip: Vestian
PM Modi flags off two new Amrit Bharat Express trains -- Varanasi to Pune and Ayodhya to Mumbai.
Pune civic chief felicitated for corporation's initiatives in Public Services Act implementation
Manav Thakkar joins UP Prometheans; Divya Chitale roped in by Pune Jaguars in UTT auction
Google News