Ultratech Cement plans to raise Rs 300 Crore
Ultratech Cement recently said that it plans to raise Rs 300 crore through secured redeemable Non-Convertible Debentures (NCDs) on private placement basis. The Company proposes to issue 7.57 per cent, 3,000 secured redeemable NCDs on a private placement basis. The issue’s tenure will be three years and 17 days with allotment date of July 27, 2016. It will mature on August 13, 2019.
Ultratech Cement had reported a 29 per cent growth in consolidated net profit at Rs 780.11 crore for the quarter ended June 2016 helped by better sales and cost optimization measures. This was against a net profit of 603.72 crore in the year-ago period.