On Friday, Indian Hotel Company Ltd which is a Tata group firm has passed the decision of raising of Rs 150 crore with a big yes. Axis Bank has been raised with some of the securities which are totally based on private placement basis.
In a BSE filing, IHCL stated that the members of the committee for long term borrowings , have approved tahe raising of funds to Axis Bank Ltd.
Moreover, the compay has yet not revealed the main objective behind raising the funds.
It added that on the wholesale debt market segment of National Stock Exchange of India Ltd, the NCDs are expected to be listed and from the deemed date of allotment the tenor of the instrument can be 3 years
On the BSE, at Rs 80.50 per scrip, the shares of Indian Hotel Company Ltd have closed, it falls down 0.43 percent in comparison to the previous close.