The Tata Power Company Ltd board approves raising Rs. 5,500 crore through NCDs

At its meeting held today, the Board of directors of The Tata Power Company Ltd has approved issuance in one or more tranches, of noncumulative, redeemable, taxable, listed, rated securities in the form of Non-Convertible Debentures (NCDs) upto an aggregate amount not exceeding ₹ 5,500 crore or its equivalent in one or more currencies on private placement basis to any persons, entities, bodies corporate, companies, banks, financial institutions and any other categories of eligible investors permitted to invest in the Debt Securities under applicable laws. The funds so raised will be utilized amongst other things for refinancing of existing loans.

Shares of TATA POWER CO.LTD. was last trading in BSE at Rs.106.55 as compared to the previous close of Rs. 109.25. The total number of shares traded during the day was 4129934 in over 12598 trades.

The stock hit an intraday high of Rs. 110.75 and intraday low of 105.15. The net turnover during the day was Rs. 443197958.

Source : Equity Bulls

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