New Delhi, March 30 Lodha Developers Ltd, a real estate firm, announced on Monday that it has raised ₹500 crore by issuing debentures.
In a regulatory filing, the company stated that the board has approved the allotment of 50,000 non-convertible debentures (NCDs) of ₹1 lakh each, totaling ₹500 crore, through a private placement.
The company also stated that an interest rate of 8.52 per cent per annum, payable semi-annually, will be paid.
Lodha Developers is one of the leading real estate companies in the country. It has a presence in the Mumbai Metropolitan Region (MMR), Pune, and Bengaluru. The company has acquired land in the Delhi-NCR region to develop housing projects.
