UltraTech Cement to raise ₹5,000 crore via NCDs after Q1 profit jump

UltraTech Cement plans to raise up to ₹5,000 crore through a private placement of non-convertible debentures. The finance committee of the board approved the issuance of up to 5,00,000 NCDs with a face value of ₹1,00,000 each, the company said in a BSE filing. The tenure and coupon rate for the tranches were not disclosed.

The debt raise comes after UltraTech reported a 17.23% jump in consolidated net profit for the June quarter, to ₹2,603.72 crore. Revenue from operations rose 15.85% to ₹24,648.20 crore.

UltraTech is India's largest cement producer, with a total grey cement capacity of 205.5 million tonnes per annum and a white cement/putty capacity of 3.2 MTPA. The company is also planning to enter the cables and wires business this fiscal year.