Tata Steel to raise 2,700 crore via NCDs on private placement basis [Video]

Tata Steel Ltd on Tuesday, March 19, said that its board has approved the raising of funds worth ₹2,700 crore through- unsecured Non-Convertible Debentures (NCDs) on a private placement basis, the company informed the bourses.

Shares of Tata Steel were trading 0.033% higher at ₹149.75 on NSE in today’s session. Tata Steel stock opened at ₹149 and hit a day’s high of ₹152.45 on Tuesday.

Tata Steel shares have gained 7% so far in 2024 and risen 43% in a year.

The date of allotment of the NCDs is March 27, 2024, and they will mature after three years of the allotment date.

Tata Steel in a regulatory filing said the issuance will be done on a private placement basis to eligible investors. The company will issue a total of 2,70,000 NCDs of face value ₹1,00,000 each aggregating to ₹2,700 crore, the filing said.

NCDs are long-term financial instruments that companies issue to raise …