Noida-based Indian multinational information technology company Coforge Ltd, earlier NIIT Technologies, announced on Tuesday that it has raised Rs 340 crore in funding via issuance of non-convertible bonds on a private placement basis.
‘The board of directors of the company has allowed allotment of up to 3,400 unsecured, listed, rated, redeemable non-convertible bonds of Rs 10,00,000 each totaling up to Rs 340 crore to identified investors on a private placement basis,’ Coforge stated in a regulatory filing.
The non-convertible bonds (NCBs) are offered to be listed on the wholesale debt market (WDM) segment of BSE, the company added.
Shares of Coforge were trading 0.28 percent lower at Rs 2,799 apiece on BSE.
The freshly infused will offer huge opportunities for Coforge to grow and scale its business.Shishir Gupta, Founder and CEO, StartupLanes
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