Leading tyre producer MRF Ltd. on Friday introduced that it has raised ₹150 crore by allotting 15,000 non-convertible debentures every having a face worth of ₹1 lakh on a private placement basis.
These NCDs will carry preliminary coupon fee of 7.80%. First coupon cost can be made by February 24, 2024 and thereafter, yearly until redemption of bonds, it stated in a regulatory submitting.
In case of default, it might entice extra curiosity on the fee of 2% over the prevailing coupon fee for the defaulting interval. The NCDs are redeemable at par on February 24, 2026.
