Tata Chemicals Secures Major Funding with Rs 1,500 Crore NCDs Issuance

Tata Chemicals Ltd announced raising Rs 1,500 crore by issuing non-convertible debentures (NCDs) on a private placement basis. A total of 1,50,000 NCDs, each valued at Rs 1 lakh, were allocated to selected investors. These instruments, carrying a 7.06% fixed coupon rate, have a tenure just shy of three years.

Tata Chemicals Ltd has successfully raised Rs 1,500 crore through the issuance of non-convertible debentures (NCDs) in a private placement initiative. The debentures were allotted to chosen investors at a face value of Rs 1 lakh each, the company disclosed in a regulatory filing on Wednesday.

These NCDs, which carry a tenure of two years and 364 days, offer a fixed coupon rate of 7.06 percent, making them an attractive choice for investors keen on stable, fixed returns without direct equity exposure. The issuance was carried out through multiple yield allotment methods.

The NCDs are poised to be listed on the National Stock Exchange of India's Debt Segment. Tata Chemicals' internal committee, formed by the board of directors, approved the allotment, ensuring strategic and carefully executed funding acquisition.

(With inputs from agencies.)