(ET)
UltraTech Cement is planning to raise Rs 9,000 crore via an issue of redeemable, non-convertible debentures on a private placement basis, the company said on Friday, while notifying the exchange of its annual general meeting to be held on July 18. It plans to seek shareholders’ nod for the issuance on the AGM.
UltraTech last month announced the acquisition of the cement business of Century Textiles and Industries and it was to be financed through through a share swap, besides taking on Century’s debt of Rs 3,000 crore. UltraTech has also aggressively bid for Binani Cement under the bankruptcy code that seeks resolution of distressed assets in the country.
