Mercator has received board’s approval for the issue of 1,750 Secured Redeemable Unlisted Non-Convertible Debentures (NCDs) of face value of Rs 10 lakh each, aggregating to Rs 175 crore, on private placement basis. The Board of Directors of the company at its meeting held on March 23, 2018, approved the same.
The proposed date of allotment of NCDs is March 27, 2018. The tenure of NCDs is 4.5 years and coupon rate is 12% per annum.
Mercator is one of India's largest private sector Dredging Company. The group has a presence in varied segments namely shipping, offshore services, oil exploration and production, dredging, coal mining/trading and logistics.
