Tata Power on Monday said its wholly owned arm Coastal Gujarat Power has raised Rs 2,700 crore by privately placing non-convertible debentures.
The proceeds will be used for general corporate purposes of Coastal Gujarat Power, including refinance of foreign currency debt, funding of hedge unwinding costs relating to refinancing of foreign currency debt, capital expenditure, and augmentation of working capital, Tata Power said in a BSE filing.
Coastal Gujarat Power (CGPL) issued and allotted the non-convertible debentures (NCDs) in two series {Series I NCOs amounting Rs 1,700 crore for a tenor of five years and Series II NCOs amounting Rs 1,000 crore for a tenor of 1O years), the filing said.
Mauritius IFC is a tax compliant jurisdiction and has put in place appropriate legislation for exchange of information with other nations as per global norms, the Economic Development Board of Maur
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