scorecardresearchTata Steel to raise ₹2000 crore through issuance of NCDs

Tata Steel to raise 2000 crore through issuance of NCDs

Updated: 15 Sep 2022, 07:58 AM IST
TL;DR.
Tata Steel: In a regulatory filing, the steel major said that its committee of directors constituted by the Board of Directors on September 14 approved the issue of debt securities in the form of NCDs.
FILE PHOTO: A company logo is seen outside the Tata steelworks near Rotherham in Britain, March 30, 2016.    REUTERS/Phil Noble/File Photo

FILE PHOTO: A company logo is seen outside the Tata steelworks near Rotherham in Britain, March 30, 2016. REUTERS/Phil Noble/File Photo

(PTI) Tata Steel on Wednesday said it will raise 2,000 crore through issuance of non-convertible debentures on private placement basis.

In a regulatory filing, the steel major said that its committee of directors constituted by the Board of Directors on September 14 approved the issue of debt securities in the form of NCDs.

The issue is divided into two series, Tata Steel said.

In series one, 5,000 NCDs of face value 10,00,000 each will be issued to raise an amount aggregating 500 crore.

The date date of allotment for first series is September 20, 2022 and its date of maturity is September 20, 2027.

While, under the second series, 15,000 NCDs of face value 10,00,000 each will be issued to raise another 1,500 crore. Its allotment date is also September 20, 2022,  maturity date is September 20, 2032.

First Published: 15 Sep 2022, 07:58 AM IST