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Grasim Industries Ltd., the flagship company of the Aditya Birla Group, on Thursday announced that the company will raise Rs 1,000 crore through the issuance of non-convertible debentures (NCDs) on a private placement basis.

The Rs 1,000 crore issue consists of 10,000 rated, listed, unsecured, redeemable NCDs of Rs 10 Lakh each for cash at par.

The tenure of the instrument is 5 years, with the date of the allotment being December 1, 2022, and the date of maturity being December 1, 2027. The NCDs offer investors a coupon rate of 7.63 percent per annum, with an annual interest payment till the redemption date.

The company added that these NCDs have been rated ‘AAA (STABLE)’ by rating agencies CRISIL and ICRA. Additionally, they would be listed on the wholesale debt market segment of both the BSE and the National Stock Exchange of India.

Also Read: Grasim Q2 Results: Strong chemicals business aids highest ever operating prof

Last month, Grasim Industries reported its highest-ever quarterly EBITDA during the September quarter, courtesy of a strong performance from its Chlor-alkali business.

The company's EBITDA increased 19.4 percent from a year ago, while sales increased 37 percent during the September quarter.

Shares of Grasim Industries are trading at Rs 1,800.30, up 2.30 percent.

(Edited by : Rukmani Krishna)