Emami Realty has received its board approval for the issuance of Unlisted, Redeemable, Non-Convertible Debentures (NCDs) upto Rs 400 crore on private placement basis. The company has signed term sheet for issue of NCDs. The debentures would be issued at 12 percent coupon rate with maturity at 15 months from the date of allotment.
Emami Realty, formerly Emami Infrastructure is a holding company engaged in construction and real estate development. The Company's primary business is development of residential, commercial and retail properties through its subsidiaries and associates.