Tata Steel committee of directors approves raising Rs 670 cr via NCDs

A total of 6,700 non convertible debentures of face value Rs 10,00,000 each would be issued

Tata Steel on Monday said the committee of directors has approved raising Rs 670 crore through issuance of debt securities.

The decision was taken at a meeting of the Committee of Directors, which is constituted by the board, on March 9, the company said in a BSE filing.

A total of 6,700 non convertible debentures (NCDs) of face value Rs 10,00,000 each would be issued aggregating to Rs 670 crore, the filing added.

The date of the allotment of the debt securities is March 13, 2020 and date of maturity is March 13, 2025, it said.