Greenlam Industries Limited Approves Issuance of Non-Convertible Debt Securities for an Amount Up to INR 1,500 Million on Private Placement Basis
October 26, 2021 at 05:26 am EDT
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The Board of Directors of Greenlam Industries Limited in their meeting held on October 26, 2021, have approved the issuance of Non-Convertible Debt Securities for an amount up to INR 1,500 million on Private Placement basis in one or more tranches. Tenure of the instrument - date of allotment and date of maturity - Up to 4 years from the date of allotment. The deemed date of allotment and date of maturity will be finalized post fulfillment of Conditions precedent to the issue. Coupon/interest offered, schedule of payment of coupon/interest and principal - Maximum coupon payable shall be 8% p.a. payable annually. The Non-Convertible Debt Securities shall be secured by first pari-passu charge on movable fixed assets of the Company, present and future; first pari-passu charge on immovable fixed assets of the Company situated at Behror (Rajasthan) and Nalagarh (Himachal Pradesh) and second pari-passu charge on current assets of the Company, present and future. In case of default in repayment of Interest and/or principal redemption on due dates, additional interest up to 2.00% p.a. over the coupon rate will be payable by the Company for the defaulting period.
Greenlam Industries Limited is an India-based company, which is engaged in the business of manufacturing laminates, decorative veneers and allied products through its factories at Behror and Nalagarh. The Company manufactures compact panels, cladding solutions, restroom cubicle / locker solutions, kitchen solutions, decorative veneers, engineered wooden flooring, staircase solutions and engineered wooden door sets, in addition to a range of decorative laminates. It operates through three segments: Laminates & Allied Products, Veneers & Allied Products, and Plywood. Laminate & Allied Products segment is engaged in the business of manufacturing of laminates, compact laminates and other allied products. Veneer & Allied Products is engaged in the business of manufacturing of decorative veneers, engineered wood flooring, engineered door sets and door leaf, and other allied products. The overseas subsidiaries of the Company are mainly engaged in the marketing and distribution of its product.
GREENLAM INDUSTRIES LIMITED 
