GAIL (India) Ltd is planning to raise Rs 750 crore in bonds via private placement to finance its ongoing projects.
The company has decided to issue non-convertible bonds of up to Rs 750 crore with an option to double the issue size via private placement in one or more tranches, GAIL said in a statement. ´The issue of the rupee bonds would help in funding the growing capex requirements for the future growth of the company,´ Chairman BC Tripathi said. The Board also recommended issuance of one bonus share for every three equity shares held by shareholders.
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