Tata Power to Raise Rs 3500 cr via NCDs

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Tata Power said that its board has approved raising up to Rs 3,500 crore through issuance of non-convertible debentures in one or more tranches on a private placement basis. 

 

"The Board of Directors of the Company at its meeting held on July 11, 2016, has approved issuance in one or more tranches, of non-cumulative, redeemable, taxable, listed, rated securities in the form of non-convertible debentures up to an aggregate amount not exceeding Rs 3,500 crore," the company said in a filing to the Bombay Stock Exchange. 

 

According to the statement, the tenor of these securities will not exceed 3 years (Debentures) from the date of issue on private placement basis to any persons, entities, bodies corporate, companies, banks, financial institutions and any other categories of eligible investors permitted to invest in the Debentures under applicable laws. 

 

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