Ayurvedic food and personal care products manufacturer Baba Ramdev-led  Patanjali Ayurved raised up to Rs 175 crore via the sale of non-convertible debentures (NCDs) on Tuesday. “Patanjali Ayurved raised another Rs 175 crore via NCDs,” the company's spokesperson SK Tijarawala said. This fundraising is for ''CAPEX and increase in demand for working capital'', he added.

Of this Rs 175 crore issue, Rs 60 crore was subscribed by IDBI Bank, Rs 90 crore by Punjab National Bank and the rest Rs 25 crore by Uco Bank.

The NCDs carry a coupon rate of 9.25 percent with a tenure of three years. The maturity date is May 18, 2024.

The company would use the funds for expansion and working capital, a spokesperson of the company said adding the issue got fully subscribed within four minutes of opening on Tuesday.

Last year on May 29, the company had raised Rs 250 crore to fund its working capital requirement and strengthen its supply chain network.

Patanjali, which is mainly into fast-moving consumer goods business and ayurvedic medicines, had total revenue of Rs 9,087.91 crore in 2019-20. The company’s biscuit, noodles, dairy businesses, solar panel, apparel businesses and transportation are not part of Patanjali Ayurved.

Petrol versus Diesel: Key Fuel market trends to watch out for today

MCX Gold Watch: Gold trades flat after surging for two days, What about Silver

Amazon launches MiniTV, its in-app free video-streaming service exclusively for India