Tata Steel board approves plans to raise up to Rs 5,000 cr through issuance of non-convertible debentures
Tata Steel on Tuesday said its board has approved plans to raise Rs 4,000 cr with greenshoe option of Rs 1,000 cr through issuance of non-convertible debentures on a private placement basis
-
The date of allotment of debentures has been fixed as 1 March, 2019
-
The date of maturity would be 1 March, 2034
-
Shares of the Tata Steel today ended 0.14 percent down at Rs 504.15 apiece on BSE
New Delhi: Tata Steel on Tuesday said its board has approved plans to raise Rs 4,000 crore through issuance of non-convertible debentures on a private placement basis.
In addition, the company's board also approved a greenshoe option of Rs 1,000 crore, the company said in a regulatory filing.
Tata Steel logo. Representational image. Reuters.
The committee of directors approved the issuance of "40,000 NCDs of face value Rs 10,00,000 each aggregating to Rs 4,000 crore plus a greenshoe option of up to Rs 1,000 crore," the company said.
The securities would be "unsecured, redeemable, rated, listed, non-convertible debentures (NCDs)" to be issued on a private placement basis, it said.
The date of allotment has been fixed as 1 March, 2019, while the date of maturity would be 1 March, 2034, it said.
Shares of the company today ended 0.14 percent down at Rs 504.15 apiece on BSE.
Tata Steel is among the top global steel companies with an annual crude steel capacity of 33 million tonnes per annum (MTPA). It is one of the world's most geographically diversified steel producers.
also read
Tata Motors gets nod from board constituted committee to raise Rs 1,000 cr via issue of non-convertible debentures
Tata Motors on Tuesday said a board constituted committee has approved raising up to Rs 1,000 crore via issue of non-convertible debentures on a private placement basis
RIL raises Rs 8,500 cr from sale of non-convertible debentures offering 7.20% return
Reliance Industries has mopped up Rs 8,500 crore from the sale of non-convertible debentures (NCDs), cashing in on the cheaper funds flooding the debt market that is starved of quality paper, priced it at 7.20 percent
Shriram Transport Finance to raise up to Rs 10,000 cr through public issuance of bonds
Shriram Transport Finance Company (STFC) on Monday said it plans to raise up to Rs 10,000 crore through public issuance of bonds