2 months ago
88
Aditya Birla Finance Ltd. (ABFL), a subsidiary of Aditya Birla Capital Ltd., has announced a public issue of non-convertible debentures (NCDs) for an amount up to ₹1,000 crore with an option to retain oversubscription up to ₹ 1,000 crore, aggregating up to 2 crore NCDs for an aggregate amount of up to ₹2,000 crore.
The NCDs proposed to be issued pursuant to this issue have been rated IND AAA Outlook Stable and rated [ICRA] AAA (Stable) by India Ratings & Research Private Ltd. and ICRA Ltd. respectively.
The issue will open on Wednesday and close on Thursday with an option of early closure.
The company proposes to utilise at least 75% of the net proceeds of the issue towards onward lending, financing, and repayment of interest and principal of existing borrowings of the company, and a maximum of up to 25% of the net proceeds towards general corporate purposes.
