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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retail firm 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 , Trent has partnered for supermarket format ‘’ and Spanish company for stores in India.