State-run Hindustan Petroleum Corporation (HPCL) said on December 15 that its board has approved raising up to Rs 10,000 crore via Non-Convertible Debentures (NCDs), each aggregating to Rs 750 crore, on a private placement basis.
The Board of Directors of HPCL said in a stock exchange filing that “the Company had issued Unsecured, Redeemable, Non-Convertible, Non-Cumulative, Taxable Debentures of Rs.10,00,000/- each aggregating to Rs. 750 Crores on private placement basis on December 15, 2022, for funding of refinancing of existing borrowings and/or funding of Capital Expenditure of the Issuer, including recoupment of expenditure already incurred and/or for any other purpose in the ordinary course of business of the Issuer."
Earlier this month, HPCL had issued a prompt tender for the import of 40,000 tonnes of non-oxygenated 91 RON gasoline for delivery on December 11-25, news agency Reuters had reported citing market sources.
The refiner had earlier sought 40,000-55,000 tonnes of non-oxygenated gasoline for delivery during December 20-30 via another tender that closed on December 1.
Meanwhile, shares of HPCL on Thursday (December 15) closed 1.59 percent higher at Rs 246.60 apiece on BSE. It hit a high of Rs 248.90 and a low of Rs 242.45 during the session.
The scrip has been an underperformer, down 16.91 percent in the past one year in comparison to a 4.42 percent gain in Sensex.
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