MRPL plans to raise Rs 3,000 crore via NCDs

Mangalore Refinery & Petrochemicals (MRPL) is planning to raise up to Rs 3,000 crore by way of issuing Non-Convertible Debentures (NCDs). The move is expected to improve its cash flow and aid in meeting working capital needs besides retiring part of its high cost debt.

MRPL is engaged in the business of refining crude oil. It offers high speed diesel oil, fuel oil and motor spirit. It operates as a subsidiary of Oil and Natural Gas Corporation. The company was founded in 1988 and is based in Mangalore, Karnataka.