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The board will issue secured, rated, redeemable, taxable non convertible debentures with a base issue size of Rs 350 crore with an option to retain oversubscription upto Rs 350 crore aggregating to a total issue size of upto Rs 700 crore on private placement basis.
The said debentures will mature on 26 October 2030. The proposed instruments will be listed on BSE and National stock exchange of India (NSE).
Shree Cement is one of India's top three cement producers. Its portfolio of products includes Shree Jung Rodhak Cement, Bangur Cement, Roofon and Rockstrong Cement.
The company's consolidated net profit increased by 105% to Rs 572.3 crore in Q1 FY24 from Rs 279.50 crore in Q1 FY23. Net revenue from operations rose by 15% YoY to Rs 5,064.83 crore in the first quarter of FY24.
The scrip declined 0.47% to Rs 25,811.65 on the BSE.
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