NEW DELHI: Equinox India Developments has raised Rs 950 crore through non-convertible debentures (NCDs).
The NCDs being issued by Lucina Land Development (LLDL), a wholly-owned subsidiary, is backed by a corporate guarantee by the company.
“The company has agreed to provide a corporate guarantee in relation to the listed, secured non-convertible debenture, being issued by Lucina Land Development (LLDL), a wholly-owned subsidiary of the company, in one or more tranches aggregating upto Rs 950 crore,” it said in a BSE filing.
Corporate guarantee in favour of IDBI Trusteeship Services, towards the due and punctual payment and discharge of the other debenture obligations being issued /to be issued by LLDL.
The company recently appointed Jitendra Mohandas Virwani, chairperson of Embassy Group & promoter of the company, as non-executive non-independent director on the board. It also completed allotment of 60,91,05,999 fully paid equity shares, to the shareholders of NAM Estates, in accordance with the merger scheme.
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