CGCL receives approval to raise Rs 7 billion issuance of NCDs

Crompton Greaves Consumer Electricals Limited (CGCL) has obtained shareholder approval to raise up to Rs 7 billion through the issuance of NCDs on a private placement basis. In April 2015, the Avantha Group had offloaded its entire stake (34.37 per cent) in CGCL to private equity investors Advent International and Temasek for Rs 20 billion. Following this, CGCL was listed on the Bombay Stock Exchange and the National Stock Exchange (NSE) in May 2016.