Shree Cement raises INR3bn in bonds placement

Shree Cement raises INR3bn in bonds placement
Published: 24 November 2009

Shree Cement raised INR3bn through three-year non-convertible debentures, Managing Director HM Bangur told NewsWire18 today.

Earlier, NewsWire18 had reported, quoting Bangur, that the company would
raise funds for its Beawar power project.

The company has offered the bonds at 8.10%, annually.

The bonds are rated AA+ by CRISIL and CARE AA+ by CARE.

Kotak Mahindra Bank and Standard Chartered were the arrangers for the issue.