NCL Industries Limited

The board of NCL Industries on Friday approved a proposal to enhance the present limit of borrowing via issue of secured, non-convertible, redeemable, debentures (NCDs) to ₹325 crore from ₹320 crore on private placement basis. The funds raised would be deployed for repayment of dues to its existing term lenders and to finance capacity augmentation of its cement & boards divisions. The stock of NCL Industries slumped 10 per cent at ₹132.7 on the BSE.