Pioneer Legal acts on Kirloskar Ferrous Industries raising funds on a private placement basis

Kirloskar Ferrous Industries has raised Rs 250 crore through rated, listed, unsecured, redeemable Non-Convertible Debentures (NCDs) and allotted 2,500 NCDs having face value of Rs 10 lakh each in two series of 1,250 NCDs each on a private placement basis to the identified investors.

Pioneer Legal acted for Kirloskar Ferrous Industries on the deal.

The team was led by Narendra Dingankar (Partner), Vishesh Nahata (Senior Associate), Shivek Sharma (Associate), Suraj Soni (Associate) and Nishtha Jaisingh (Associate)

The promoters holding in the company stood at 59.05%, while Institutions and Non-Institutions held 12.74% and 28.20% respectively

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