Tata Power Company has received its board approved for a proposal to raise up to Rs 5,500 crore through issuance of Non-Convertible Debentures (NCDs). The Board has approved issuance in one or more tranches, of non- cumulative, redeemable, taxable, listed, rated securities in the form of NCDs.
The NCDs can be issued on private placement basis to any persons, entities, companies, banks and financial institutions. The funds so raised will be utilised for refinancing of existing loans, among others.
Tata Power Company is India’s largest integrated power company.