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Sobha plans to raise Rs 270 crore through issuance of Secured Redeemable NCDs

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The company also informed that all its offices and manufacturing units will remain closed for 21 days.

Sobha plans to raise Rs 270 crore through issuance of Secured Redeemable Non-Convertible Debentures (NCDs) on private placement basis, the company said in a BSE filing.

“..the Board of Directors have approved the issue of Secured Redeemable Non Convertible Debentures up to an amount of Rs 270 crore by way of private placement,” the company said in the regulatory filing.

Apart from this, Ravi PNC Menon has acquired 1,13,230 equity shares of Sobha, the company said in a BSE filing. Persons Acting in Concert(PAC) with the acquirer for the acquisition were PNC Menon, Sobha Menon, PN Haridas and Sudha Menon.

The company also informed that all its offices and manufacturing units will remain closed for 21 days. It has adopted a work from home policy for the employees in the critical operations.

The promoters holding in the company stood at 51.75%, while Institutions and Non-Institutions held 42.71% and 5.54% respectively.

Source: TNN

(Note: The story has been published without modifications to the text. Only the headline has been changed.)

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