CESC Ltd Raises ₹300 Crore via NCDs on Private Placement

Power utility CESC Ltd on Friday announced that it has successfully raised ₹300 crore through the issuance of non-convertible debentures (NCDs) on a private placement basis.

In a regulatory filing, the company said the Committee of the Board of Directors approved the issue of 30,000 redeemable, senior, secured, unlisted, rated NCDs, each carrying a face value of ₹1 lakh. The debentures were issued for cash at par, aggregating to ₹300 crore.

This development comes just two days after the company had informed exchanges about plans to raise funds through NCDs. The fresh issue is expected to support the company’s financial requirements and operational growth.

CESC Ltd, part of the RP-Sanjiv Goenka Group, is engaged in power generation and distribution, primarily serving Kolkata and adjoining areas. The company has been leveraging debt instruments to strengthen its capital base and fund business expansion.