Indian coking coal manufacturer, Gujarat NRE Coke, said on Monday that it will raise up to Rs 10 billion through institutional placement.
The company would raise funds through the issue of non-convertible debentures (NCD) with warrants on a qualified institutional placement basis, the company said in a filing to the Bombay Stock Exchange.
The terms and conditions of the said NCD issuance would be decided by the board of directors and would be subject to the shareholders' approval, the company added.
Meanwhile, the company said it has raised Rs 1 billion through the issue of non-convertible redeemable debentures to Life Insurance Corporation of India.
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