Tata Steel board raises Rs 2,000 cr via NCD issue

21 Sep 2022 , 10:41 AM

The NCDs were issued in two different series. Series-1 Debenture comprised of 5,000 NCDs amounting to Rs 500 crore with 7.50% per annum fixed coupon rate. Series-2 Debenture comprised 15,000 NCDs amounting to Rs 1,500 crore with 7.76% per annum fixed coupon rate. Meanwhile, the maturity date of Series-1 Debenture is 20 September 2027, that of Series-2 Debenture is 20 September 2032. The NCDs are proposed to be listed on the wholesale debt market (WDM) segment of BSE. Tata Steel Group is among the top global steel companies with an annual crude steel capacity of 34 million tons per annum. On a consolidated basis, the steel majors net profit dropped 21% to Rs 7,714 crore on 18.8% increase in net sales to Rs 63128.32 crore in Q1 FY23 over Q1 FY22. Shares of Tata Steel were up 0.28% to Rs 106.15 on the BSE. Powered by Capital Market – Live News