CESC has received board’s approval for a plan to raise Rs 400 crore through unsecured non-convertible debentures (NCDs) on a private placement basis. The tenure of the NCDs is of five years and the interest rate will be linked to treasury bill rates. The committee of the board, at its meeting held on September 28, 2021, approved the same. It has approved the issue of 4,000 redeemable, rated, senior, secured, unlisted non-convertible debentures having a face value of Rs 10 lakh each for cash at par aggregating to Rs 400 crore, on a private placement basis.
CESC is engaged in power generation and distribution in state of West Bengal. The company is a fully integrated power utility with its operation spanning the entire value chain right from mining coal, generating power and distribution of power.
