Sunteck Realty Raises Rs. 55 Crore through Non Convertible Debentures | India Infoline

1. Sunteck Realty Raises Rs. 55 Crore through Non-Convertible Debentures India Infoline News | Mumbai Kamal Khetan, Chairman and Managing Director of Sunteck Realty Ltd. said, “This issuance demonstrates our balance sheet strength. It has been our constant endeavour to maintain low levels of debt and also keep on reducing our cost of borrowing which is already quite low. While we sit on comfortable debt levels we believe it's our peak debt and we would bring it down further and utilize our excess cash receivables for any growth opportunity.” Sunteck Realty Limited, Mumbai’s premier real estate developer catering to the premium and ultra premium segment has successfully raised Rs 55 crore through Non-Convertible Debentures (NCDs) at a coupon rate of 11.75% per annum payable annually with tenure of four years. Commenting on the development, Kamal Khetan, Chairman and Managing Director of Sunteck Realty Ltd. said, “This issuance demonstrates our balance sheet strength. It has been our constant endeavour to maintain low levels of debt and also keep on reducing our cost of borrowing which is already quite low. While we sit on comfortable debt levels we believe it's our peak debt and we would bring it down further and utilize our excess cash receivables for any growth opportunity.” The company has allotted 5,500 secured redeemable non-convertible debentures of Rs 1 lakh each, aggregating Rs 55 crore on private placement basis. The NCDs would be listed on the Wholesale Debt Market Segment of the Bombay Stock Exchange (BSE). Read more at: http://www.indiainfoline.com/article/news-top-story/sunteck-realty-raises-rs-55- crore-through-non-convertible-debentures-116011500495_1.html Contact Us: Sunteck Realty Limited Address: 5th Floor, Sunteck Centre, 37-40, Subhash Road, Vile Parle (E), Mumbai – 400057 Phone No: +91-22-42877800 Website: http://www.sunteckindia.com/ Email: info@sunteckindia.com