Tata Power raises Rs1,000 crore via NCDs; stock gains ~1%

30 Dec 2022 , 09:18 AM

Tata Power Company Limited announced on Thursday that it has raised Rs1,000 crore through the private placement of non-convertible debentures.

The company stated in a regulatory filing that it has allotted 10,000 unsecured, redeemable, taxable, listed, rated Non-Convertible Debentures (NCDs) worth Rs1,000 crore through a private placement.

Series I NCDs worth Rs500 crore will mature on January 8, 2030, while Series II NCDs worth Rs500 crore will mature on December 29, 2032, it added.

The company also said that these NCDs would be listed on BSE.

At around 9.21 AM, Tata Power was trading at Rs 208.25, up by 1.17% against previous close of Rs205.85 on NSE. The scrip opened at Rs207.40.

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