Vipul has received an approval for raising funds amounting Rs 150 crore through issuance of debt securities in the nature of Zero Coupon, Secured, Unlisted, Unrated, Redeemable, Non-Convertible Debentures (NCDs). The Debenture Committee of the board of the directors of the company at its meeting held on August 09, 2017 has approved for the same.
The bonds will have tenure of 54 months from the date of subscription. The deemed date of allotment will be August 18, 2017, while the date of maturity will be February 18, 2022.
Vipul is a leading Real Estate Developer in NCR besides developing properties in Ludhiana, Bawal, Bhubaneshwar, Faridabad and Gurgaon.