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Patanjali Ayurved's Rs 250 Crore NCD Issue Fully Subscribed Within 3 Minutes

Staff

Within three minutes of opening on Thursday, Baba Ramdev-led Patanjali Ayurved's Rs 250 crore debentures issue got fully subscribed.

"This is historic that our maiden issue of Rs 250 crore NCD is fully subscribed within 3 minutes of opening of the issue... This shows the excitement and faith of investors," said Patanjali Ayurved Managing Director Acharya Balkrishna.

The Haridwar-based firm will use this fund for its working capital requirement and strengthening of its supply chain network.

"This is a reflection of trust of billions, which has made Patanjali the most trusted brand of India and has made Swadeshi Movement led by Swami Ramdev a must for Strong and self-reliant India," Balkrishna added.

It is the first-ever bond issue by Patanjali Ayurved, which has become a household name and a leading FMCG brand in India in recent years.

Patanjali's non-convertible debentures (NCDs) carry a coupon rate of 10.10 percent with a tenure of three years. The maturity date of the redeemable NCDs is 28 May 2023 and will be listed on the stock exchanges.

The debenture has been rated as AA by Brickwork.

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