Business Standard

Tata group's Infopark Properties raises Rs 1,900 cr via zero coupon bonds

Infopark Properties will own 100% of shareholding in TRIL Infopark Ltd which operates the asset Intellion Park, Chennai, spread over an area of 4.6 mn sq ft

Tata
Premium

Photo: Bloomberg

Abhijit Lele Mumbai
Infopark Properties Ltd (IPL), a unit of Tata Realty and Infrastructure Ltd, has raised Rs 1,900 crore through two-year zero coupon bonds. The company enjoys financial flexibility by virtue of being part of the TATA group.

IPL will own 100 per cent of shareholding in TRIL Infopark Ltd (TIL) which operates the asset Intellion Park, Chennai (IPC), spread over an area of 4.6 million square feet (msf). CARE Ratings has assigned "A+" rating to non-convertible debentures (NCDs) with a 'stable' outlook.

Bond dealers said the debt of around Rs 1,900 crore is to be serviced through cash flows generated by

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jun 27 2022 | 11:32 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com