Tata Steel raises Rs 1,000 cr via NCDs

Tata Steel on Wednesday said its committee of directors has approved allotment of non-convertible debentures (NCDs) worth Rs 1,000 crore on private placement basis

"The Committee of Directors has today approved allotment of 10,000 –- 8.25 per cent unsecured, rated, listed, redeemable, NCDs of face value Rs 10,00,000 each, for cash aggregating to Rs 1,000 crore, to identified investor on private placement basis," Tata Steel said in a filing to BSE

The NCDs are proposed to be listed on the Wholesale Debt Market Segment of BSE , the filing said.

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