Tata Steel to raise ₹2,700 crore through NCDs

Tata Steel board has approved fundraising of ₹2,700 crore through the issuance of unsecured, redeemable, and listed non-convertible debentures (NCDs) on a private placement basis.

According to the stock exchange filing, 2,70,000 NCDs of face value ₹1 lakh each are to be issued.

• Also read: ‘Tata Steel scaling up India capacities’

The instrument will be listed under the wholesale debt market segment of BSE Ltd.

The date of allotment is tentatively on March 27, 2024, and the date of maturity is on March 26, 2027.

Tata Steel shares traded at ₹149.50 on the NSE, down by 0.13 per cent as of 2:52 pm.