Water treatment player Va Tech WABAG Ltd has signed an agreement with Asian Development Bank to raise Rs 200 crore through unlisted non-convertible debentures, the company said on Friday.
This would be Asian Development Bank’s first investment in a water sector company in the country.
“..Signed an agreement with Asian Development Bank towards raising Rs 200 crore through unlisted non-convertible debentures carrying a five year and three months tenure which will be subscribed by ADB over 12 months,” Va Tech WABAG said in a statement.
The capital raised would be used for working capital requirements of the company and would be within the current borrowing limits thereby not increasing the debt-level of the company, it said.
