GAIL to issue 15,750 debentures to raise funds on private placement basis

New Delhi: State-owned GAIL Ltd stated in a mandatory filing, "The Company has
issued 15,750 (Fifteen Thousand Seven Hundred and Fifty), 7.34 percent Senior, Unsecured, Listed, Rated, Taxable, Non-Cumulative, Redeemable, Non-Convertible Debentures (Series-I) of Rs 10,00,000 (Rupees Ten Lakh) each aggregating to Rs 15,75,00,00,000 (Rupees One Thousand Five Hundred Seventy-Five Crore) on Private Placement basis on Tuesday."

Further, it stated that the funds raised through this issue will be utilised for, inter alia, refinancing of existing borrowings and/or funding of capital expenditure of the company, including recoupment of expenditure already incurred and/or for any other purpose in the ordinary course of business of the company.

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