Tata Power raises Rs3,500 crore via debentures
The tenor of Tata Power securities is three years and these debentures will mature on 3 August 2019
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New Delhi: Tata Power on Wednesday said it has raised Rs3,500 crore through an issuance of unsecured, taxable, redeemable, non-cumulative, listed, rated and non-convertible debentures worth Rs3,500 crore on a private placement basis.
Last month, Tata Power’s board at its meeting held on 11 July, had approved issuance of non-cumulative, redeemable, taxable, listed, rated securities in the form of non-convertible debentures up to an aggregate amount not exceeding Rs3,500 crore.
The tenor of these securities is three years and these debentures will mature on 3 August 2019.
Stock of the company today ended at Rs71.50, down 0.56% from the previous close on BSE.