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Tune in on 17th July for the Small Business Virtual Summit with Cisco. Register now!
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Last Updated : Jun 03, 2020 09:37 PM IST | Source: PTI

Tata Steel to raise Rs 400 crore

In a filing to the BSE, the company said the committee approved allotment of 4,000 non-convertible debentures having face value of Rs 10 lakh each on private placement basis to identified investors.

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Tata Steel on Wednesday said its committee of directors has approved raising Rs 400 crore through a debt issue.

In a filing to the BSE, the company said the committee approved allotment of 4,000 non-convertible debentures having face value of Rs 10 lakh each on private placement basis to identified investors.

"The committee of directors has today (Wednesday) approved allotment of 4,000 – 8.08 per cent per annum unsecured, rated, listed, redeemable, floating coupon, non-convertible debentures (NCDs) of face value Rs 10,00,000 each, for cash aggregating to Rs 400 crore, to identified investors on private placement basis...," Tata Steel said.

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The NCDs are proposed to be listed on the Wholesale Debt Market (WDM) Segment of BSE Limited.
First Published on Jun 3, 2020 09:34 pm
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