Gujarat Fluorochemicals Limited Approves the Issuance of 5,000 Senior, Secured, Listed, Rated, Taxable, Redeemable, Non-Convertible Debentures on Private Placement Basis
February 07, 2023 at 03:12 am EST
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Gujarat Fluorochemicals Limited informed that the Board of Directors of the Company at its meeting held on 07th February, 2023, has considered and approved issuance of 5,000 senior, secured, listed, rated, taxable, redeemable, non-convertible debentures (NCDs) of face value of INR 100,000 each, with an aggregate value of INR 500,000,000 ("Debentures") including the terms and condition of issue of the NCDs on private placement basis in order to comply with the mandatory requirements of SEBI circular bearing reference number SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021, in respect of fund raising by issuance of Debt Securities by Large Corporate. coupon/Interest offered: 8.52% p.a. Schedule of payment of principal: Amortising in annual installments beginning at the end of one year from Deemed date of allotment: End of 1st year: INR 170 Million, End of 2nd year: INR 170 Million, Maturity date: INR 160 Million.
Gujarat Fluorochemicals Limited is an India-based chemical company. The Company's business segment is chemicals, which comprises of bulk chemicals, fluorochemicals and fluoropolymer. The Company is engaged in the manufacturing and trading of refrigerant gases, caustic soda, chloromethane, polytetrafluoroethylene (PTFE), fluoropolymers, fluoromonomers, specialty fluorointermediates, speciality chemicals, mining and sale of fluorspar and allied activities. The Company caters to both domestic and international markets. Its chemical products include caustic soda, carbon tetrachloride, chlorine, methylene di chloride, hydrochloric acid, sodium hydrogen sulphate, hydrogen gas, fluorspar and anhydrous hydrogen chloride. Its fluoropolymers products include polyvinylidene fluoride (PVDF), fluorine kautschuk material (FKM), perfluoroaloxy alkanes (PFA), micro powder fluorinated ethylene propylene (FEP) and PPA. The Company's refrigerants products include R22, R32, R407C and R410A.