Home Fashion Trent to raise Rs 300 crore via non-convertible debentures

Trent to raise Rs 300 crore via non-convertible debentures

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Tata group retail firm Trent Ltd is planning to raise up to Rs.300 crore through issuance of non-convertible debentures on a private placement basis and has also approved stock-split to improve liquidity of the company’s share.

Trent to raise Rs 300 crore via non-convertible debentures
The board of directors has also approved the sub-division of equity shares of the company having a face value of Rs.10 per share into equity shares having a face value of Rs.1 each

“The board approved an enabling resolution for raising of funds by issue of non-convertible debentures (NCDs) on a private placement basis up to an amount not exceeding Rs.300 crore. The issue of NCDs is subject to the approval of shareholders,” Trent Ltd said in a BSE filing.

It further said the board of directors has also approved the sub-division of equity shares of the company having a face value of Rs 10 per share into equity shares having a face value of Rs 1 each.

“The sub-division of equity shares is subject to approval of shareholders and statutory approvals,” it added.

Apart from operating department chain Westside, Trent has partnered Tesco for supermarket format ‘Star Bazaar’ and Spanish company Inditex for Zara stores in India.