Tatal Steel's committee of directors on Monday approved the issue of Non-Convertible Debentures (NCDs) worth Rs 2,150 crore, the company announced through an exchange filing. The company will be issuing unsecured, redeemable, rated, and listed NCDs on a private placement basis to eligible investors.
NCDs worth Rs 2,150 crore
The company will issue 2,15,000 NCDs of Rs 1,00,000 each, making the total issue of Rs 2,150 crore. These NCDs will be listed on the wholesale debt market segment of BSE Limited on February 27 and will mature on February 25, 2028. The NCDs will have annual interest payment with bullet repayment at the end of five years from date of allotment.
These NCDs are rated as 'AA+' by India Ratings and Research Private Limited and CARE Ratings Limited.
Shares
Tata Steel Limited shares on Tuesday at 10:37 am were at 113.70, up by 1.20 per cent.
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