India-based steel company Tata Steel has said that “Its committee of directors has approved the plan of raising Rs 670 crore through issuance of debentures.”
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In a filing with the stock exchange, the company said, “The committee of directors has approved the allotment of 6,700 unsecured, redeemable, rated, listed non-convertible debentures (NCDs) having face value of Rs 10,00,000 each for cash aggregating to Rs 670 crore to identified investors on a private placement basis.”
Speaking on the listing of NCDs, the company in its statement said: “The NCDs are proposed to be listed on the wholesale debt market segment of the BSE.”
