IVRCL Assets & Holdings on Thursday said it has successfully raised Rs.250 crore from IFCI by subscribing to compulsorily convertible debentures ( CCDs) for funding its subsidiaries.
These CCDs are non-dilutive at the holding company (IVRCL Assets & Holdings) and will be treated as equity at the project company level, reducing the need for investment by the company. The instrument has a coupon rate of 9% per annum.
Shares of IVRCL are now trading at Rs.126.90 on the National Stock Exchange, down 1.25% on a volume of 25,170 shares.
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