Tata Chemicals Raises Rs 1,500 Crore Via NCD Issuance
Tata Chemicals Ltd has raised Rs 1,500 crore through the allotment of non-convertible debentures (NCDs) on a private placement basis, the company said in a regulatory filing.
The company allotted 1,50,000 listed, unsecured, rated, redeemable, taxable and non-cumulative NCDs, each with a face value of Rs 1 lakh, aggregating to Rs 1,500 crore. The debentures were issued for cash to identified investors.
The NCDs carry a tenure of two years and 364 days and offer a fixed coupon rate of 7.06%. The issuance was executed through multiple yield allotment methods, Tata Chemicals said.
The debentures will be listed on the debt segment of the National Stock Exchange of India (NSE). The allotment was approved by the internal committee of the board of directors.
