Tata Power today said it will raise Rs 500 crore by issuing unsecured redeemable non-convertible debentures on private placement basis.
The company will issue "unsecured, non-cumulative, redeemable, taxable, listed, rated non-convertible debentures of Rs 500 crore" on "private placement" basis, Tata Power said in a BSE filing.
The tenure of the instrument is seven years and "floating rate NCDs (are) linked with Base Rate of State Bank of India", it added.
The date of allotment of 5,000 debentures is January 16.
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.
