After the board approves the raising of NCDs of Rs 1,750 crore, Tata Communications reaches a record high

23 Aug 2023 , 02:43 PM

On a private placement basis, the business will issue 1,75,000 rated, unsecured, redeemable, listed NCDs with a face value of Rs 1 lakh, totalling Rs 1,750 crore. The aforementioned debentures will be allocated on August 29, 2023, and they will mature three years after that day. 

On the wholesale debt market section of the National Stock Exchange of India (NSE), it is proposed to list the NCDs. In more than 190 countries and territories, Tata Communications is a key component of the global digital ecosystem that powers the booming digital economy of today.

With collaborative and linked solutions, core and next-generation connections, cloud hosting and security solutions, and media services, it leads with trust and supports the digital transformation of businesses around the world.

Despite an increase in operational revenue of 10.69% to Rs 4,771.36 crore in Q1 FY24 compared to Q1 FY23, Tata Communications’ consolidated net profit fell by 29.81% to Rs 381.69 crore.

Today’s intraday saw the stock reach an all-time high of Rs 1,826.20.

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