Tata Power Board is ready to raise to Rs 5,500 cr per NCD

Tata Power said its board on Wednesday approved a proposal to raise up to $ 5,500 crore through non-refundable withdrawals. “The Board has authorized the issuance of one or more types of non-compliant, non-refundable, taxable, listed, estimated in the form of Non-Convertible Debentures (NCDs) up to a maximum amount not exceeding Rs 5,500 crore…,” the BSE filed.
NCDs can be issued privately to any individuals, organizations, companies, banks and financial institutions. The money raised will be used to repay the existing loan, among other things, he said.

The money raised will be used to repay the existing loan, among other things, he said.

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