Autocomp maker Uno Minda plans Rs.2,500-Cr fundraise

Gurugram-based auto components manufacturer Uno Minda plans to raise Rs 2,500-Cr through the issuance of various securities. The fundraising options include foreign currency convertible bonds (FCCBs), non-convertible debentures (NCDs), or other instruments convertible into equity shares via public or private placement.The company intends to use the proceeds to support growth and meet business funding requirements.The National Bank for Agriculture and Rural Development (NABARD) has withdrawn its planned three-year bond sale following a lacklustre response from market participants. The bank initially aimed to raise INR 7,000 crore, which included a greenshoe option of INR 5,000 crore, but it only received bids totalling INR 3,030 crore.The bank opted to cancel the issuance as the limited investor interest would have forced it to accept higher borrowing costs, with estimates indicating rates reaching as high as 8.04%.