GAGA Share Market News

[hfe_template id='11223'] [ad_1] Mumbai: Equinox India Developments (formerly Indiabulls Real Estate) raised ₹950 crore on Thursday through non-convertible debentures (NCDs) to fund Indiabulls Greens & Park in Panvel. The 48-month NCDs, issued by Lucina Land Development (LLDL), offer an interest rate of 13.00% and are backed by corporate guarantees from Equinox India, Sion Developers, Citra Properties and RGE Constructions. Indiabulls Park (Phase 2) spans 53 acres in Panvel and is being developed under the MMRDA Lease Rental Housing Scheme of the Maharashtra government. The project has a saleable area of 27.07 lakh sq. ft. and is being developed by LLDL. The NCDs hold IVR A- (CE)/stable rating from Infomerics, supported by corporate guarantees. To manage credit risk, the coupon rate will adjust by 25 basis points (0.25%) per rating notch, increasing in case of a downgrade and decreasing upon an upgrade. A three-notch downgrade would trigger an accelerated redemption ...

[hfe_template id='11223'] [ad_1] Shares of Piramal Enterprises surged nearly 3% to their day’s high of Rs 1,123.65 on the BSE after the company’s Board of Directors on Friday approved the company's plans to raise up to Rs 2,000 crore via issuance of Non-Convertible Debentures (NCDs). The fundraise may take place in one or more tranches and the face value of the shares will be Rs 1,000 each. “Pursuant to Regulations 30 and 51 of the SEBI Listing Regulations, we write to inform you that at the meeting of Administrative Committee (‘Committee’) of the Board of Directors held today, the Committee approved the public issuance of secured Non-Convertible Debentures of face value Rs. 1,000 each aggregating up to Rs. 2,000 crores in one or more tranches,” said the company in an exchange filing. Piramal Group is a global business conglomerate with diverse interests in pharma, financial services and real estate. The Group has offices in over 30 countries and a global brand prese...