Grasim Industries plans to raise funds via debt securities, term loan

Aditya Birla Group company, Grasim Industries, on Wednesday announced plans to raise funds by using term loans or issuing debt securities.

The company’s board of directors at a meeting held on Wednesday approved the fundraising, Grasim Industries said in a regulatory filing without disclosing the amount it intends to raise.

He also authorized the finance committee of the board of directors “to finalize the mode, terms and conditions of raising funds, including the use of term loans (in INR or foreign currencies) or the issuance of securities” and to decide all matters and transactions relating to the same.

Apart from term loans, Grasim would also raise funds by issuing debt securities, including bonds or debentures or securities denominated in foreign currency, which may be issued in tranches, in India or abroad, in the aggregate borrowing limit of Rs 10,000 crore, he added.

Grasim Industries is a leading manufacturer of cement, viscose staple fibers and chemicals.

In the financial year 2019-20, it achieved revenue of Rs 18,609.40 crore.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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John A. Bogar