Rashtriya Chemicals Approves Raising Up To Rs 1,400 Crore Via NCDs

Rashtriya Chemicals and Fertilisers Ltd.'s board approved on Thursday the issue of non-convertible debentures of up to Rs 1,400 crore in one or more tranches through a private placement basis, according to an exchange filing.

The company will have to raise the approved funds in the period of the next 12 months, subject to the approval of the shareholders at the annual general meeting.

At the board meeting, the chairperson, with the agreement of all the directors at the meeting, has decided to adjourn the board of directors meeting, which will continue on Friday to review and approve the remaining agenda items, it said.

The period of trading window closure will now end on Sept. 8.