The Aditya Birla Group’s main company, Grasim Industries Ltd., announced on Wednesday that it had authorized a Non-Convertible Debentures (NCDs) offering to raise ₹2,000 crore through private placement. “The Finance Committee of the Board of Directors of the organization at its meeting held today, inter-alia, has approved the issuance of Not-convertible Debentures on a private offering basis, for an amount not exceeding ₹2,000 crore, in one or more segments,” the business stated in its filing with the stock market.
NCD Issuance Details
The purpose of issuing NCDs is to raise money through private placement. With this strategy, Grasim Industries can secure long-term funding while giving investors set returns. Although the corporation has made it clear that the issuance would be carried out in one or more tranches, the precise terms and timeframe have not been made public.
Through the private placement approach, NCDs are sold directly to a limited number of investors, such as high-net-worth individuals and institutional buyers. When compared to public issuing, this method frequently yields reduced costs and faster execution. These NCDs are even more alluring to investors due to Grasim Industries’ standing as a prominent corporation.
Grasim Industries Share Price
Grasim Industries’ stock fell 1.04% intraday to Rs 1698 in the afternoon session from its previous closing of Rs 1716.05 on the BSE. Today, Grasim’s stock opened at Rs 1706.05, down. Technically speaking, Grasim Industries’ relative strength index (RSI) is 44.8, indicating that it is not trading in either the overbought or oversold zones. With a beta of 0.9, the stock shows little volatility over the course of a year. The shares of Grasim Industries are currently trading below the five-, twenty-, and fifty-day moving averages but above the 100- and 200-day moving averages. The share has decreased 1.48% since the start of this year and increased 28.75% in a single year.
