Tata Power Company gained 2.34% to Rs 94.15 after the company said it raised Rs 900 crore though non-convertible debentures (NCDs) on private placement basis.
Tata Power said it raised Rs 900 crore by allotting 9,000 unsecured, redeemable, taxable, listed, rated NCDs on private placement basis on 23 February 2021. These are fixed rate NCDs with annual coupon payment. India Ratings have rated the NCDs as 'IND AA/Stable.'Tata Power is India's largest integrated power company and, together with its subsidiaries & jointly controlled entities, has an installed/ managed capacity of 12,772 MW.
On a consolidated basis, Tata Power Company reported 28.4% rise in net profit to Rs 248.21 crore on 7.5% increase in net sales to Rs 7597.91 crore in Q3 FY21 over Q3 FY20.
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