Tata Power gains on raising Rs 1,000 cr via NCDs

Tata Power Company advanced 1.53% to Rs 209 after the company said that it has raised Rs 1,000 crore through allotment of 10,000 non-convertible debentures (NCDs) on a private placement basis.

These unsecured, redeemable, taxable, listed, rated, non-convertible debentures (NCDs) will be listed on WDM segment of BSE.

These NCDs will be allotted in two parts both aggregating to Rs 500 crore. The series I will mature on 8 January 2030 while series II will mature on 29 December 2032.

These NCDs will have fixed rate with annual coupon payment, said the company.

Tata Power Company is one of India's largest integrated power companies and together with its subsidiaries and jointly controlled entities, has an installed / managed capacity of 14,002 MW The company has a presence across the entire power value chain - generation of renewable as well as conventional power including hydro and thermal energy, transmission & distribution, coal & freight, logistics, and trading.

The company's consolidated net profit surged 94.32% to Rs 819.09 crore on 43.02% jump in revenue from operations to Rs 14,030 crore in Q2 FY23 over Q2 FY22.

Powered by Capital Market - Live News