The bonds, with face value of Rs 1 crore each, are perpetual in nature and bear coupon of 8.70 per cent per annum. Perpetual bonds carry no maturity date, so they may be treated as equity, not as debt.
The company manufactures and assembles a wide array of products and provide end-to-end product solutions.
“With the easing of COVID-19 induced lockdown, the company witnessed a strong demand for residential properties. We registered strong booking in our on-going projects with improved realisation and registration of properties in completed projects,†said Pankaj Bajaj, Chairman and Managing Director of the company.
Indian equities have come under pressure for their rich valuations with five major foreign broking houses downgrading their outlook on the market in the past three weeks.
From the beginning of October to the first week of November, cooking oil prices had come down after the government reduced import duty on oil and asked the states to keep a close vigil on stock holding.
ICICI Prudential Mutual Fund picked up 1.47 million shares of the IT sector company at Rs 450 per share through a bulk deal on the BSE.
The Dow Jones Industrial Average fell 29.36 points, or 0.08%, at the open to 35,901.69.
The Nifty Pharma index closed 1.03 per cent down at 13481.4.
Whether Paytm’s IPO will become a harbinger of bad times like RPower remains to be seen, but it sure should deflate the bubble in India’s IPO market till LIC comes knocking next March.
In the international market, gold was trading in the green at USD 1,869 per ounce and silver was flat at USD 25.09 per ounce.
Warning! Information Posting in this website is only for educational purpose. We are not responsible for losses incurred in Trading based on this information.