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UltraTech Cement Raises INR50 Billion Through Bond Issue

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UltraTech Cement (NSE:ULTRACEMCO, BOM:532538) raised 50 billion Indian rupees through the issue of 500,000 listed, rated, redeemable non-convertible debentures (NCDs) in three tranches on a private placement basis.

The issuance includes Series I debentures worth 15 billion rupees carrying a 7.22% coupon rate and maturing on Feb. 2, 2029, according to an Indian bourse filing on Monday.

Series II debentures worth 15 billion rupees carry a coupon rate of 7.23% and will mature on Feb. 1, 2030, while Series III debentures worth 20 billion rupees carry a 7.25% coupon rate and will mature on Aug. 1, 2031.

Shares of the company rose 1% in recent trade.

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