Tata Steel Limited has announced the approval of issuing Non-Convertible Debentures (NCDs) worth ₹3,000 crore through a private placement. The decision was taken during the Committee of Directors meeting on February 14, 2025.
Key Highlights of the NCD Issuance:
- Type of Securities: Fixed Rate, Unsecured, Redeemable, Rated, and Listed NCDs.
- Total Issue Size: 3,00,000 NCDs of ₹1,00,000 each, aggregating to ₹3,000 crore.
- Listing: The NCDs will be listed on the Wholesale Debt Market Segment of BSE Limited.
- Tenure:
- Date of Allotment: February 21, 2025*
- Date of Maturity: February 21, 2030*
(*tentative dates)
- Interest Rate & Payment Schedule:
- Fixed rate determined via bidding on the Electronic Book Provider (EBP) Platform of BSE.
- Annual interest payments throughout the tenure.
- Bullet repayment of principal at maturity.
- Security: The NCDs are unsecured, with no special rights or privileges attached.
- Credit Rating:
- ‘AAA’ by India Ratings
- ‘AA+’ by CARE Ratings Limited
The meeting commenced at 1:00 p.m. IST and concluded at 2:20 p.m. IST. The company has disclosed this information under SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015.
This issuance aims to strengthen Tata Steel’s financial position and support its long-term strategic objectives.
