Lodha Developers raises Rs 300 cr through debentures to fund biz

Realty firm Lodha Developers has raised Rs 300 crore by issuing debentures on a private placement basis for business growth.

In a regulatory filing on Tuesday, the company informed that the executive committee of the Board of Directors has approved the allotment of non-convertible debentures, aggregating to Rs 300 crore on a private placement basis.

The debentures, with an interest coupon rate of 7.96 per cent, will be redeemed at par at the end of the 3 years from the date of allotment.