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Motilal Oswal Financial Services has approved issuing 50,000 Non-Convertible Debentures (NCDs) via private placement. Each NCD has a face value of Rs. 1,00,000, aiming to raise Rs. 500 Crore. These are fully paid, secured, rated, redeemable, and listed senior bonds with a 2-year tenure and an 8.50% annual interest rate. The NCDs will be listed on BSE. This move is a strategy to strengthen the company's capital base, offering a fixed income option for investors.
All announcements from Motilal Oswal Financial Services Limited