DCW raises Rs 410 crore through debentures

NEW DELHI: Speciality chemical firm DCW Ltd on Monday said it has raised Rs 410 crore through issuance of debentures to refinance debt and augment working capital.

In a regulatory filing, DCW said it has completed the refinancing of its debt with the issuance of NCDs (Non-Convertible Debentures) amounting Rs 350 crore and OCDs (Optionally Convertible Debentures) to be converted into equity within 18 months, amounting Rs 60 crore.

DCW will utilise the funds to refinance the existing term loans and augment working capital.


The company expects this fund raise to enhance capacity utilisation and meet increasing product demand, it added.

These NCDs carry a moratorium of 18 months and a tenure of six years.

DCW manufactures PVC, C-PVC (chlorinated polyvinyl chloride), caustic soda, soda ash and Synthetic Iron Oxide Pigment (SIOP).

The company makes 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.