Tata Power plans to issue Non-Convertible Debentures (NCDs) on a private placement basis, aiming to raise up to ₹2000 crore through the issuance of 2,00,000 NCDs. Each NCD has a face value of ₹1,00,000. The NCDs will be listed on the Bombay Stock Exchange (BSE). The issuance includes different series with maturities of 3 years and 5 years from the deemed date of allotment.
NCD Issuance Details
Tata Power is set to issue Unsecured, Senior, Redeemable, Rated, Taxable, Non-cumulative Non-Convertible Debentures (NCDs) through private placement to eligible investors. The company intends to issue 2,00,000 NCDs with a face value of ₹1,00,000 each, aggregating to ₹2000 crore.
Listing and Tenure
The NCDs are proposed to be listed on the Debt Segment of the Bombay Stock Exchange of India Limited (BSE). The deemed date of allotment is tentatively set for December 19, 2025.
Maturity Series
The issuance includes two series with different maturity dates:
Series I: Maturity in 3 years from the Deemed Date of Allotment.
Series II: Maturity in 5 years from the Deemed Date of Allotment.
Coupon/Interest Details
The coupon/interest will be offered on a fixed rate basis, determined through price bidding at the Electronic Bidding Platform (EBP) of BSE. Bidding on EBP can be on uniform/multiple yield allotment basis.
Redemption Details
The debentures will be redeemed on maturity.
Series I: Bullet repayment at the end of 3 years from the Deemed Date of Allotment.
Series II: Bullet repayment at the end of 5 years from the Deemed Date of Allotment.
Credit Rating
The existing credit rating for the NCDs is “AA+/Stable” by India Ratings and Research Private Limited and CRISIL Ratings Limited.
Source: BSE
