Ashiana to raise Rs 20crore via pvt placement of NCDs

Delhi-based realty firm Ashiana Housing on Tuesday said it plans to raise Rs 20 crore through private placement of non-convertible debentures (NCDs).

According to a published report, “The executive committees of directors have passed the resolution for allotment of secured non-convertible debentures on private placement for an amount of Rs 20 crore,” Ashiana Housing said in a regulatory filing.

The fund has been raised at 11 per cent interest rate.

The report said Ashiana Housing had last year raised Rs 200 crore from global investors Goldman Sachs and Creador through issuance of qualified institutional placement.

The company focuses on the development of homes for senior citizens. It has projects in Jaipur, Bhiwadi, Sohna-Gurgaon, Neemrana, Chennai, Kolkata and Jamshedpur. That apart, the company is developing houses in Lavasa township project.