Indian Hotels Company’s (IHCL) Borrowings Committee has approved the allotment of 1500 rated, unsecured, listed, redeemable, non-convertible debentures (NCDs) of face value of Rs 10,00,000 aggregating to Rs 150 crore, by way of private placement, to Axis Bank.
The NCDs are proposed to be listed on the wholesale debt market segment of National Stock Exchange of India within 20 days from the deemed date of allotment. The tenor of the instrument is 3 years from the deemed date of allotment i.e. April 23, 2020 and the maturity date is on April 23, 2023. The coupon payable is 7.50% and the coupon is payable annually on April 23 every year. The principal amount is payable on April 23, 2023.
Indian Hotels Company and its subsidiaries are collectively known as Taj Hotels Resorts and Palaces and recognized as one of Asia's largest and finest hotel company. It operates in the luxury, premium, mid-market and value segments of the market.
