On September 26, the board of Zuari Industries had approved a proposal to issue up to 2,000 NCDs of Rs 10 lakh each at par, with an aggregate nominal value of up to Rs 200 crore for cash in dematerialised form, on a private placement basis.

The company, on 29 September, had issued 1000 NCDs worth Rs 100 crore to 360 One Prime. The remaining 1000 NCDs, amounting to Rs 100 crore, have been placed with 360 One today (11 October 2023).

Zuari Industries is engaged in the manufacture sale and trading of fertilizers seeds and pesticides.

The company had reported a consolidated net loss of Rs 48.26 crore in the quarter ended June 2023 as against net profit of Rs 253.04 crore during the previous quarter ended June 2022. Sales declined 18.39% to Rs 191 crore in Q1 FY24 over Q1 FY23.

The scrip rose 0.65% to currently trade at Rs 147.40 on the BSE.