JMC Projects board nods 1.5 billion rupees fund-raising on private placement basis

AHMEDABAD | MUMBAI | RAJKOT – Infra Projects & Construction arm of Kalptaru Group, JMC Projects (India) Ltd board decides to raise 1.5 billion (~150 crore) rupees on private placement basis, by issuing 1,500 non-convertible debentures each valued at 1 million (~10 lakh) rupees, the company said in regulatory filing submitted to the Exchanges in India.

The Management Committee of the Board of Directors of the Company at its meeting held today i.e. August 28, 2018 has allotted 1,500 Secured, Rated, Listed, Redeemable, Non-Convertible Debentures of the face value of Rs.10,00,000/- (Rupees Ten Lakh Only) each, for an aggregate nominal value of Rs.150,00,00,000/- (Rupees One Hundred Fifty Crores Only) divided in Series I Debentures (300 nos.), Series II Debentures (450 nos.) and Series III Debentures (750 nos.) on private placement basis, the filing read.

The said NCO’s will be listed on Wholesale Debt Market Segment of BSE Ltd, the filing claimed.

The announcement from the company had hit the Indian Stock Exchanges after the trading session on Tuesday had closed.


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