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UltraTech Cement rises on considering to raise Rs 250 crore via NCDs

Ultratech Cement is currently trading at Rs. 4114.00, up by 14.05 points or 0.34% from its previous closing of Rs. 4099.95 on the BSE.

The scrip opened at Rs. 4105.00 and has touched a high and low of Rs. 4130.00 and Rs. 4073.40 respectively. So far 55731 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 4903.90 on 27-May-2019 and a 52 week low of Rs. 3340.00 on 28-Jan-2019.

Last one week high and low of the scrip stood at Rs. 4142.95 and Rs. 3992.75 respectively. The current market cap of the company is Rs. 118793.58 crore.

The promoters holding in the company stood at 61.68%, while Institutions and Non-Institutions held 29.86% and 8.45% respectively.

UltraTech Cement is considering a proposal to raise funds by issuance of 2,500 rated, listed, non-convertible, redeemable, unsecured non-convertible debentures (NCDs) of Rs 10,00,000 each aggregating to Rs 250 crore on private placement basis, including the terms and conditions of the issue, on or after November 22, 2019.

Earlier, the Board of Directors of the Company at their meeting held on April 25, 2016, had granted an approval to raise funds, by way of issuance of NCDs; foreign currency loan or rupee term loan, or in any other manner, in one or more tranches.

UltraTech Cement is the largest manufacturer of grey cement, Ready Mix Concrete (RMC) and white cement in India. It is also one of the leading cement producers globally. UltraTech as a brand embodies strength, reliability and innovation.

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