Trent to raise up to Rs 300 crore by issue of NCDs

29 Jun '16
1 min read
Courtesy: Tata
Courtesy: Tata

Owner of fashion retail chain Westside, Trent has announced that it will be raising funds up to Rs 300 crore by the issue of Non Convertible Debentures (NCDs) on a private placement basis in a company filing with the BSE.

The board of directors have approved the issue of NCDs, and only the approval of shareholders is pending.

The company will also be converting its equity shares, having a face value of Rs 10 per share presently, into equity shares having face value of Rs 1 per share.

Along with 82 Westside stores, the company also operates Star Bazaar stores and Landmark format stores.

Westside is one of the largest and fastest growing retail chains in India. (MCJ)

Fibre2Fashion News Desk - India

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