Tata Power Company Ltd approves allotment of 5000 NCDs

Tata Power Company Ltd has successfully issued and allotted 5000 unsecured, non-cumulative, redeemable, taxable, listed, rated Non-Convertible Debentures (NCDs) of the face value of Rs. 10 lakh each aggregating Rs. 500 crore on a private placement basis.

These NCDs carry a floating interest rate linked to Base Rate of State Bank of India and have been rated CARE AA by CARE Ltd.

Kotak Mahindra Bank Limited has acted as the sole arranger for the issue of these NCDs.

These NCDs have been issued on a private placement basis through a private placement offer letter cum information memorandum addressed specifically to certain eligible investors and which is not intended to be an advertisement, invitation, offer, sale or solicitation of an offer to the public at large for investing in the NCDs.

Shares of TATA POWER CO.LTD. was last trading in BSE at Rs.64.75 as compared to the previous close of Rs. 65.65. The total number of shares traded during the day was 251707 in over 1593 trades.

The stock hit an intraday high of Rs. 65.75 and intraday low of 63.5. The net turnover during the day was Rs. 16265408.

Source : Equity Bulls

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