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DCW Ltd. Capital/Financing Update 2021
63614_rns_2021-03-08_e48eaa56-485a-4876-8f7b-9da90df47b78.pdf
Capital/Financing Update
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March 08, 2021
| To, | March 08, 2021 |
|---|---|
| National Stock Exchange of India Ltd.Exchange Plaza Bldg.5th Floor, Plot No.C-1'G' Block, Near Wockhardt,Bandra Kurla ComplexMumbai 400 051.Fax:26598237/38DCWScrip Code: | BSE Limited,1st floor, New Trading RingRotunda Building,Phiroze Jeejeebhoy Towers,Dalal Street,Mumbai- 400 001.Fax : 22723121/3719/ 2037/2039Scrip Code :500117 |
| Dear Sir/Madam, | |
| Sub: Press Release | |
| PursuantRegulationSEBItheObligationsto(Listing30andDisclosureofRequirement)Regulations,enclosedherewith2015,copyPresstheofisaRelease to be distributed to the media, contents of which are self-explanatory. | |
| ThisintimationisalsobeinguploadedontheCompany'swebsiteatwww.dewltd.com. | |
| You are requested to kindly take the same on record & oblige. | |
| Thanking You, | |
| Yours faithfully, | |
| For DCW Limited' 'itesName:General Manager (Legal) & Company SecretaryMembership No. ACS-22527 | |
Sub: Press Release
For DCW Limited '| Name: 'ites
DCW LIMITED
HEAD OFFICE : "NIRMAL" 3RD FLOOR, NARIMAN POINT, MUMBAI-400 021. TEL.: 2287 1914, 2287 1916, 2202 0743 TELEFAX: 22 2202 8838 REGISTERED OFFICE : DHRANGADHRA - 363 315 (GUJRAT STATE) Email: [email protected], Website: www.dewltd.com, CIN-L24110GJ1939PLC000748
PRESS RELEASE
DCW raises INR 410 Crore through OCD and NCD
Plans to augment working capital & refinance existing loans
Mumbai, Monday 8'* March 2021: DCW Limited, India's leading specialty chemical company, today announced that it has completed the refinancing of its debt with the issuance of NCDs (Non-Convertible Debentures) amounting INR 350 crores and OCDs (Optionally Convertible Debentures) to be converted into equity within 18 months, amounting INR 60 crores.
DCW will utilise the funds in refinancing the existing term loans and augment working capital. The company expects this fundraise to enhance capacity utilization, and meet increasing product demand. These NCD's carry a moratorium of 18 months and a tenure of six years.
Commenting on the transaction Mr. Vimal Jain, Chief Financial Officer, DCW Limited said, "DCW saw strong investor interest for NCD and OCD and could manage this fundraise at favourable terms. Through these transactions, the company extended its debt stack maturities and added additional liquidity to the balance sheet. DCW's credit profile remains stable with positive bias. With the completion of this refinancing, the company has managed to enhance financial flexibility and is on a firmer footing to achieve long-term growth.
About DCW
DCW is a specialty chemical company, manufacturing PVC, C-PVC (chlorinated polyvinyl chloride), Caustic Soda, Soda Ash and Synthetic Iron Oxide Pigment (SIOP). The Company is the only domestic manufacturer C-PVC, a versatile thermoplastic used mainly for manufacturing hot and cold-water pipes, industrial liquid handling, and a wide range of products serving a variety of applications. DCW's Caustic Soda, SIOP and PVC Units are in close proximity to the Tuticorin Port in Tamil Nadu, giving the Company a competitive edge over its peers to export its products to global markets.
For more information, please contact:
Mr. Dilip Darji Mr. Mehul Mehta General Manager (Legal) & Company Secretary - DCW Director- Dickenson World Landline: +91 22 22871914/16 Mob: + 91 98202 80325 [email protected] [email protected]