Indian Hotels Company on Friday said that it has issued secured, redeemable, non-cumulative & non-convertible debentures worth Rs 495 crores through private placement.

"The board of directors of the company on May 16, 2016, had approved issuance of secured, redeemable, non-cumulative & non-convertible debentures on private placement basis," Indian Hotels Company said in a BSE filing.

The Rs 495 crores issue is deemed to be allotted on January 20, 2017 and will mature on April 15, 2022, which will carry an interest rate of 7.85 per cent annually.

Meanwhile, shares of the company were trading at Rs 107.05 apiece, down 1.06 per cent, from the previous close at 15:15 hours on BSE.