Jagran Prakashan raises Rs 150 cr via NCDs

PTI Mumbai | Updated on December 18, 2012

Media firm Jagran Prakashan has raised Rs 150 crore through Non—Convertible Debentures.

“The company has allotted 1,500 Secured Redeemable Non—Convertible Privately Placed Debentures (NCDs) of face value of Rs 10,00,000 each, aggregating to Rs 150 crore to the subscribers,” it said in a filing to the BSE.

“The company has repaid its short term high interest debt taken from Deutsche Bank AG, New Delhi and has also reduced its working capital availment, as a result of which there is no change in company’s gross and net debt,” it added.

Shares of Jagran Prakashan closed at Rs 100.65 on BSE.

Published on December 18, 2012

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