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Emami Issues Rs 300-Crore Debentures to DBS Bank

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Emami Issues Rs 300-Crore Debentures to DBS Bank
New Delhi: Kolkata-based FMCG firm Emami has allotted debentures worth Rs 300 crore to DBS Bank on a private placement basis to retire its short-term debt.

The company has "allotted 3,000 unsecured non-convertible debentures of the face value of Rs 10 lakh each, aggregating to Rs 300 crore to DBS Bank", Emami said in a filing to the BSE.

The allotment is in terms of the approval granted by the shareholders at its meeting held on August 5, 2015, it added.

"Further, the entire proceeds of the NCD issue will be used to retire the short term debt including payment of commercial papers," Emami said.

Shares in Emami, on Monday, ended 0.28 per cent lower at Rs 990.45 apiece on the BSE, whose benchmark Sensex index finished up 0.34 per cent.


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