Tata Capital Financial Services Rs 4,126 crore NCD issue to open on Aug 13
The base size of the issue is Rs 500 crore, with an option to retain oversubscription of up to Rs 3,626 crore.
Mumbai: Tata Capital Financial Services’ non-convertible debentures (NCDs) issue to raise up to 4,126 crore opens on August 13.
The base issue size of the Tranche II Issue is Rs 500 crore, with an option to retain oversubscription of up to Rs 3,626 crore. Out of the Rs 4,126 crore, Rs 2,997.9 crore is secured and Rs 1,128.1 crore unsecured.
The Tranche II Issue is scheduled to close on August 23 with an option of early closure or extension as decided by the board or the working committee of the board.
The NCDs are categorised into four options, where interest would be paid on an annual basis up to 8.35-8.85 per cent to various categories of investors.
At least 75 per cent of the net proceeds of the public Issue of NCDs will be used for the purpose of onward lending, financing, and for repayment /prepayment of interest and principal of existing borrowings of the company, Tata Capital said in the note, adding that a maximum of up to 25 per cent will be used for general corporate purposes.
The NCDs offered through this Tranche II Prospectus are proposed to be listed on the BSE and the National Stock Exchange of India Limited (NSE) and BSE shall be the Designated Stock Exchange.
The NCDs proposed to be issued under this Tranche II Issue have been rated "CRISIL AAA / Stable" by Crisil and have been rated "CARE AAA; Stable" by CARE Ratings.
The base issue size of the Tranche II Issue is Rs 500 crore, with an option to retain oversubscription of up to Rs 3,626 crore. Out of the Rs 4,126 crore, Rs 2,997.9 crore is secured and Rs 1,128.1 crore unsecured.
The Tranche II Issue is scheduled to close on August 23 with an option of early closure or extension as decided by the board or the working committee of the board.
The NCDs are categorised into four options, where interest would be paid on an annual basis up to 8.35-8.85 per cent to various categories of investors.
At least 75 per cent of the net proceeds of the public Issue of NCDs will be used for the purpose of onward lending, financing, and for repayment /prepayment of interest and principal of existing borrowings of the company, Tata Capital said in the note, adding that a maximum of up to 25 per cent will be used for general corporate purposes.
The NCDs offered through this Tranche II Prospectus are proposed to be listed on the BSE and the National Stock Exchange of India Limited (NSE) and BSE shall be the Designated Stock Exchange.
The NCDs proposed to be issued under this Tranche II Issue have been rated "CRISIL AAA / Stable" by Crisil and have been rated "CARE AAA; Stable" by CARE Ratings.