Gaurs Group has completed its first public issuance of non-convertible debentures (NCDs), securing ₹440 crore, with the entire issue being fully subscribed. Three mutual funds have subscribed to the NCDs.
The debentures have been issued by Gaursons India, the parent company of the Gaurs Group, and are set to be listed on the National Stock Exchange (NSE). Kotak Mahindra Bank served as the sole arranger for this transaction.
This provides us with enhanced flexibility to facilitate expansion while upholding a prudent capital structure, stated Sarthak Gaur, the company’s director. The process was completed over a span of nearly three months.
The proceeds from this issuance will be allocated towards the company’s business needs, which include land acquisition, construction and project execution, repayment of higher-cost borrowings, and general corporate purposes.
Since the funds have been raised at the holding company level, they will also enhance liquidity and financial flexibility for the Group’s operating subsidiaries.
