Tata Power said its board on Wednesday approved a proposal to raise up to Rs 5,500 crore through issuance of non-convertible debentures.
BSE filing read as
“Board has approved issuance in one or more tranches, of non- cumulative, redeemable, taxable, listed, rated securities in the form of Non-Convertible Debentures (NCDs) upto an aggregate amount not exceeding Rs 5,500 crore.”
Whom to issue?
The company stated that they will issue NCD on private placement basis to any persons, entities, companies, banks and financial institutions.
The funds so raised will be utilised for refinancing of existing loans, among others, it stated.
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