The company has decided to issue preference shares with Rs. 2200cr with a dividend rate of 8%. Looks like this will be issued to Ambuja Cements to replace it with the debt it refinanced recently. While this is neutral from a net cash flow perspective, but with the interest cost falling by about Rs. 150-160cr, it should immediately put the company into profitability.
Disc: Invested
Best Regards
Shobhit
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