Havells India Ltd is going to issue commercial paper to Yes Bank for an amount of Rs 150 crore, the company said in a regulatory filing.
The Yes Bank stock fell more than 30 per cent, as investors dumped the shares, reacting to the surprise fourth quarter loss of Rs 1,506 crore and much higher-than-expected NPA recognition, which led to most brokerages downgrading the stock.
New Delhi: Consumer electrical goods maker Havells India today said it will issue commercial paper worth Rs 150 crore to private sector lender Yes Bank.
Havells India Ltd is going to issue commercial paper to Yes Bank for an amount of Rs 150 crore, the company said in a regulatory filing. Commercial paper is an unsecured debt instrument issued normally for meeting short-term liabilities.
The tenure of the security is 90 days and the proposed date of allotment is June 20. The bonds will mature on September 18, 2017, the company said.
Shares of Havells India closed at Rs 487.40, down 1.02 per cent on BSE.
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