Godrej Industries plans to raise Rs 1,000 crore through bonds

Godrej Industries – a Godrej Group company – plans to raise Rs 1,000 crore through the issuance of bonds on a private placement basis.

“The Management Committee of the Company’s Board of Directors on March 10, 2023 approved, among other things, the Placement Memorandum/Information Memorandum for the issuance of up to one lakh rated, listed, unsecured, redeemable NCDs (Non-Convertible Debentures) with a face value of only Rs one lakh each, making up to Rs 1,000 crore on a private placement basis,” Godrej Industries said in a nightly regulatory filing on Friday.

The issue was split into two tranches of 25,000 NCDs with a face value of Rs 1 lakh each.

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Each series will have an aggregate par value of up to Rs 250 crore with the option to maintain an oversubscription of up to Rs 250 crore making a total of up to Rs 500 crore.

Godrej Industries is engaged in Oleochemicals, Surfactants, Finance & Investments and Real Estate Management businesses.

The Company, through its subsidiaries, associates and joint ventures, has significant interests in multiple industries including property development, oil palm plantations, animal feed and agricultural products, poultry, personal care and home care, etc.