Tata Steel to raise Rs 2000 crore through issuance of NCDs

New Delhi: on Wednesday said it will raise Rs 2,000 crore through issuance of non-convertible debentures on private placement basis. In a regulatory filing, the steel major said that its committee of directors constituted by the Board of Directors on September 14 approved the issue of debt securities in the form of NCDs.

The issue is divided into two series, Tata Steel said.

In series one, 5,000 NCDs of face value Rs 10,00,000 each will be issued to raise an amount aggregating Rs 500 crore.

The date date of allotment for first series is September 20, 2022 and its date of maturity is September 20, 2027.

While, under the second series, 15,000 NCDs of face value Rs 10,00,000 each will be issued to raise another Rs 1,500 crore. Its allotment date is also September 20, 2022, maturity date is September 20, 2032.