Mercator has received approval from its board to raise funds aggregating to Rs 30 crore through allotment of 300 Secured Unlisted Non-Convertible Debentures (NCDs) of the face value of Rs 10 lakh on a private placement basis.
Further, the entire proceeds of the above NCDs issue will be utilized to repay existing debts and general corporate purposes. The Board of Directors of the company at their meeting held on June 29, 2018, approved the same.
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.
