Tata Steel secures Rs 1,000 crore via NCDs

India-based multinational steel-making company Tata Steel on Wednesday said that “Its committee of directors has approved the allotment of non-convertible debentures (NCDs) worth Rs 1,000 crore on a private placement basis.”

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Tata Steel in its filing at BSE said, “The Committee of Directors has today approved an allotment of 10,000 unsecured, rated, listed, redeemable, NCDs at 8.5 percent for the face value of Rs 10,00,000 each, for cash aggregating to Rs 1,000 a crore, to identified investors on a private placement basis.”

Commenting on the listing of NCDs, Tata Steel said, “The NCDs are proposed to be listed on the Wholesale Debt Market Segment of BSE.”

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