Tata Power Secures Rs 2,000 Crore via Non-Convertible Debentures

Tata Power has raised Rs 2,000 crore through non-convertible debentures (NCDs) issued via private placement. The NCDs will be listed on BSE's wholesale debt market segment, with coupon rates set at 7.05% for Series I and 7.25% for Series II, with tenors of three and five years.

Tata Power announced the successful raising of Rs 2,000 crore through non-convertible debentures (NCDs) issued on a private placement basis. On Friday, the leading integrated power company noted that the NCDs were allocated using multiple yield allotment method prescribed by BSE and Sebi.

These debentures, which will be listed on BSE's wholesale debt market segment, were approved in an allotment by the company's committee of directors. The total issuances are divided into two series of 1 lakh NCDs each, set for respective tenors of three years and five years.

The coupon rates determined were 7.05% for Series I and 7.25% for Series II. Tata Power, with a diversified energy portfolio, looks forward to enhancing its capacity in the coming years.

(With inputs from agencies.)