Tue 04/06/2021 06:31 AM
SC Lowy has lent INR 2 billion ($27.3 million) to Hyderabad-based cement maker Parasakti Cement Industries Ltd., by subscribing for non-convertible debentures (NCDs) issued by the company, two sources with knowledge said.
The NCDs carry a coupon of ~21% per annum, the sources said. The funds raised will be used by one of the promoters to buy out a partner’s stake in the business, the sources added.
Parasakti Cement was established in 2005 and has a cement manufacturing capacity of...
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