NCD: Indian Hotels to raise ₹150 cr

Tata group firm Indian Hotels Company Ltd (IHCL) on Friday said a committee of the company has approved raising of ₹150 crore by issuing securities on private placement basis to Axis Bank. “The committee for long-term borrowings, has today by way of a circular resolution, considered and approved raising of funds by way of issuance of rated, unsecured, listed, redeemable, non-convertible debentures of face value of ₹10 lakh only aggregating to ₹150 crore only by way of private placement, to Axis Bank Ltd,” IHCL said in a BSE filing. The company, however, did not disclose the reasons for raising the funds.