Ucal Ltd to raise up to Rs 50 crore from issuing NCDs ...Middle East

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Ucal Ltd to raise up to Rs 50 crore from issuing NCDs
Chennai: Automotive component maker Ucal Ltd will be raising up to Rs 50 crore debt by issuing non-convertible debentures (NCD), the company said on Wednesday. In a regulatory filing, the Rs 584.29 crore revenue Ucal Ltd said the Board of Directors, at their meeting, has approved raising Rs 30 crore from fully-paid NCDs and up to Rs 20 crore from partly-paid NCDs. The fully paid NCDs will mature in 30 months from the deemed date of allotment and will carry a coupon rate of 11.50 per cent per annum. The partly paid NCDs for working capital needs will mature in 13 months from the deemed date of allotment, and also carry a coupon rate of 11.50 per cent per annum. –IANS The post Ucal Ltd to rai

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