Tata Steel to seek approval from shareholders for Rs 120-billion NCD issue

The board will decide on the terms of the issue, including the class of investors to whom the NCDs are to be issued, time, the number of NCDs, tranches and issue price

Tata Steel will seek shareholders’ approval for the issue of non-convertible debentures (NCDs) on private placement basis not exceeding Rs 120 billion at its forthcoming annual general meeting (AGM).
 
The board will decide on the terms of issue, including the class of investors to whom the NCDs are to be issued, time, the number of NCDs, tranches, issue price, tenor, interest rate, premium/discount, listing (in India or overseas) and any matter as may be necessary at any stage from time to time, the AGM notice mentioned. The company proposes to make the issue within a year from the AGM.