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Emami Realty on Friday said it plans to raise up to ₹400 crore through issue of debentures on private placement basis. In a notice to the stock exchanges, the company said its board has approved issue of unlisted, redeemable, non-convertible debentures up to ₹400 crore on private placement basis. The company has signed a term sheet for the issue of NCDs, it added. The debentures would be issued at 12 per cent coupon rate with maturity at 15 months from the date of allotment. The stock jumped 4.9 per cent at ₹49.20 on the BSE.
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