Tata Power has successfully raised Rs 2,000 crore through non-convertible debentures (NCDs) on a private placement basis, marking a significant milestone for the company. This development is expected to have a positive impact on the energy sector, particularly for Tata Power and its stakeholders.
The NCDs have been issued in two series, each with a tenor of three years and five years, respectively. The committee of directors approved the allotment of 1 lakh NCDs in each series, aggregating to Rs 2,000 crore. The issue price of the NCDs was determined using the multiple yield allotment method prescribed by the BSE and Sebi.
The NCDs are to be issued to identified investors on a private placement basis, with a coupon rate of 7.05% for Series I and 7.25% for Series II. The NCDs are proposed to be listed on the wholesale debt market segment of the BSE.
Tata Power Company Ltd is a leading integrated power company with a diversified energy portfolio of 15.9 GW, including thermal, solar, and wind. The company aims to expand its capacities in the future, and this funding is expected to support its growth plans.
Remember, this is a significant development for Tata Power and its investors. While this news may have a positive impact on the company's stock, it's essential to do your own research and consider your investment goals before making any decisions. The energy sector, including renewable energy and power generation, is a critical component of the Indian economy, and companies like Tata Power play a vital role in shaping its future.
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