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Last Updated : Feb 14, 2018 10:14 PM IST | Source: PTI

Tata Power to raise Rs 3,500 crore via non convertible debentures

The company has reported a marginal 1.13 percent fall in its consolidated profit after tax (PAT) at Rs 612 crore in the quarter ended December 2017.

The board of Tata Power on Wednesday gave its nod to raise funds up to Rs 3,500 crore through non convertible debentures (NCDs).

"In a meeting today, the Board has approved issuance in one or more tranches, of non-cumulative, redeemable, taxable, listed, rated securities in the form of NCDs up to an aggregate amount not exceeding Rs 3,500 crore on private placement basis to eligible investors permitted to invest in the NCDs under applicable laws," the company said in a BSE filing.

The company has reported a marginal 1.13 percent fall in its consolidated profit after tax (PAT) at Rs 612 crore in the quarter ended December 2017.
First Published on Feb 14, 2018 10:06 pm
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