Recently, Bajaj Finance Limited, a well-known financial institution, made a significant interest payment of ₹1,256.73 lakhs on its debentures. Let's break down what this means in simpler terms.
What are Debentures? Debentures are essentially loans that investors provide to a company. When you invest in debentures, you're lending money to the company, and in return, they promise to pay you back with interest.
Why is this Interest Payment Important? Bajaj Finance issued non-convertible debentures to raise funds. As part of their agreement with investors, they must make regular interest payments. This recent payment of ₹1,256.73 lakhs represents the interest owed to investors.
Interest Payment Details:
Sl. No. Particulars Details 1. ISIN INE296A07RA7 2. Issue Size (Rs. in lakhs) 16,000 3. Interest Amount (Rs. in lakhs) 1,264 4. Frequency Yearly 5. Change in frequency No 6. Interest payment record date 15 January 2024 7. Due date for interest payment 28 January 2024 8. Actual date for interest payment 29 January 2024 9. Amount of interest paid 1,256.73 (Rs. in lakhs) 10. Date of last interest payment 28 January 2023
Why is this Important for Investors? For investors who have put their money into these debentures, receiving the promised interest payment is crucial. It demonstrates the company's commitment to honoring its financial obligations and provides assurance to investors about the safety and reliability of their investment.
Bajaj Finance's timely payment of interest on its debentures is a positive sign for investors and reflects the company's financial stability. It reinforces trust and confidence in the company's financial management practices.
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