Godrej Industries Plans To Raise Rs 1,000 Crore Via Bonds

Godrej Industries, part of Godrej Group, plans to raise Rs 1,000 crore through an issue of bonds on a private placement basis.
     
"The management committee of the board of directors of the company has on March 10, 2023, inter alia, approved the placement memorandum/ information memorandum for issuance of up to one lakh rated, listed, unsecured, redeemable, NCDs (Non-Convertible Debentures) having face value of Rs one lakh only each, aggregating up to Rs 1,000 crore on private placement basis," said Godrej Industries in a late-night regulatory filing on Friday.
     
The issue has been divided into two tranches of 25,000 NCDs with a face value of Rs 1 lakh each.
     
Each series will have an aggregate nominal value of up to Rs 250 crore with an option to retain over-subscription up to Rs 250 crore aggregating up to Rs 500 crore.
     
Godrej Industries operates in the businesses of Oleochemicals, surfactants, finance & investments and estate management.
     
It has substantial interests in several industries, including property development, oil palm plantation, animal feeds and agri-products, poultry, personal care and household care, etc., through its subsidiaries, associate companies and joint ventures.