JK Paper issued non-convertible debentures to raise Rs 125 crore from market

JK Paper Ltd on Monday said it has issued 12,500 non-convertible debentures (NCDs) to raise Rs 125 crore from the market on a private placement basis.

This is in accordance with the company's plan to raise Rs 260 crore from the market through NCDs, as informed by it earlier on October 29, 2020, the JK Organisation group firm said in a regulatory filing.

"The Committee of Directors of the company at its meeting held today, pursuant to the said approval of Board of Directors, has issued and allotted 12,500 rated, unlisted, secured, redeemable, non-convertible debentures (series l) of the face value of Rs 1 lakh each aggregating to Rs 125 crore on private placement basis," it said.

Over the date of maturity of the NCDs, JK Paper said it would be commencing from May 15, 2023, and would be ending on May 1, 2029.

Shares of JK Paper Ltd on Monday settled at Rs 217.50 on BSE, up 1.68 per cent from the previous close.