Patanjali going to issue its first debentures, looking to raise $33 million
NEW DELHI, 27th May 2020: India's leading natural product based FMCG company Patanjali Ayurved plans to issue $33 million (Rs 250 crore) debentures to meet its working capital requirements and strengthen supply chain network.
This would be the first-ever issuance of debentures by the Haridwar-based firm, which has emerged as one of the leading companies in the FMCG segment in recent years.
The non-convertible debentures (NCDs) will carry a coupon rate of 10.10 per cent with a tenure of three years. The maturity date is May 28, 2023. According to information, the bidding date would start on May 28 for NCDs, which would be listed on the stock exchanges and are redeemable.
"In this pandemic, demand for Ayurveda-based products, which help in boosting immunity, along with other produ...