Tata Power raises Rs 500 cr through debentures issue

Tata Power today said it has raised Rs 500 crore by issuing unsecured redeemable, taxable non-convertible debentures on private placement basis.
"The Company has successfully issued and allotted 5000 unsecured, non-cumulative, redeemable, taxable, listed, rated Non-Convertible Debentures (NCDs) of the face value of Rs 10 lakh each aggregating Rs 500 crore on a private placement basis," Tata Power Company informed BSE today.
According to the filing, these NCDs carry a floating interest rate linked to Base Rate of State Bank of India and have been rated CARE AA by CARE Ltd.
Kotak Mahindra Bank Limited acted as the sole arranger for the issue of these NCDs.

Tata Power, country's leading integrated power firm, has a significant international presence.
The company has an installed generation capacity of 8,669 MW in the country and a presence in all the segments of power sector such as fuel, logistics, generation (thermal, hydro, solar and wind), transmission, distribution and trading, according to its website.