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Tata Power raises Rs 1,500 crore via non-convertible debentures

The company has issued 15,000 NCDs worth Rs 1,500 crore on November 21, 2019. The NCDs would be listed on WDM (wholesale debt market) segment of National Stock Exchange

twitter-logo BusinessToday.In   New Delhi     Last Updated: November 21, 2019  | 22:24 IST
Tata Power raises Rs 1,500 crore via non-convertible debentures
The NCDs, which have been rated AA (Stable) by CARE, will give an annual coupon

Tata Power, a part of Tata group, on Thursday said it has raised Rs 1,500 crore by issuing unsecured, non-cumulative, redeemable, taxable, listed, rated, non-convertible debentures (NCDs) through private placement.

"The company has issued 15,000 NCDs worth Rs 1,500 crore on November 21, 2019," Tata Power Company said in a filing to the Bombay Stock Exchange.

The company said the NCDs would be listed on WDM (wholesale debt market) segment of National Stock Exchange (NSE).

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The NCDs, which have been rated AA (Stable) by CARE, will give an annual coupon.

On November 14, the company had issued another 1,000 secured, non-cumulative, redeemable, taxable, unlisted, rated, NCDs. The power major has raised Rs 220 crore by issuing NCDs via private placement.

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Ahead of the announcement, shares of Tata Power closed 1.17 per cent lower at Rs 54.80 apiece on the Bombay Stock Exchange. The stock has touched an intraday high and low of Rs 56.15 and Rs 54.60, respectively.

Edited by Chitranjan Kumar

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