Kolte-Patil Developers Raises Rs 206 Crore From Japan's Marubeni
The funds raised from the allotment of non-convertible debentures will be utilised towards general corporate purposes.
The board of real-estate firm Kolte-Patil Developers Ltd. approved allotment of non-convertible debentures worth Rs 206.5 crore to Japan's Marubeni Corp. in its meeting on Monday.
The funds raised from the debt instruments will be utilised towards general corporate purposes, the Pune-based builder said in an exchange filing.
The zero-coupon debentures have been issued for a tenure of 10 years, unless redeemed earlier. The debt instruments will be redeemed at par on maturity, the company said.
Last week, the company reported a 41% rise year-on-year in value of sales booking during the March quarter at Rs 704 crore, and a 25% year-on-year increase in volume of sales bookings at 0.97 million square feet on "higher ticket size offerings and robust customer demand".
Kolte-Patil Developers' shares closed 0.04% higher at Rs 254.50 apiece on Monday, as compared with a 0.86% decline in the benchmark Sensex.
