New Delhi: Tata Power on Friday said it will raise Rs 500 crore by issuing unsecured redeemable non-convertible debentures (NCDs) on a private placement basis.For latest news on Business & Budget 2017, like us on Facebook and follow us on Twitter.
The company will issue "unsecured, non-cumulative, redeemable, taxable, listed, rated non-convertible debentures of Rs 500 crore", Tata Power said in a filing to the BSE.
The tenure of the instrument is seven years and "floating rate NCDs (are) linked with Base Rate of State Bank of India", it added.
The date of allotment of 5,000 debentures is January 16.
Tata Power, the country's leading integrated power firm, has a significant international presence.
The company has an installed generation capacity of 8,669 MW in the country and a presence in all the segments of the power sector such as fuel, logistics, generation (thermal, hydro, solar and wind), transmission, distribution and trading, according to its website.