Tata Capital on Thursday announced that it plans to raise up to Rs 4,126 crore through a public issue of non-convertible debentures (NCDs) with a coupon rate of up to 8.85%. The issue is the second tranche and has the base issue size of Rs 500 crore with an option to retain over-subscription of up to Rs 3,626 crore, aggregating to Rs 4,126 crore.
The minimum application size is Rs 10,000 of face value of Rs 1,000 each across all the options ranging from three to 10 years. The subscription is scheduled to open on August 13 and will close on August 23, with an option of early closure or extension as decided by the board of directors of the company. The coupon rate on the secured options, which have tenures of three, five and eight years, would be 8.45%, 8.50% and 8.65%, respectively. The highest-yielding unsecured option with a tenure of 10 year has a coupon rate of 8.85%. Read more – – https://www.financialexpress.com/market/tata-capital-plans-to-raise-rs-4126-crore-via-ncds/1670677/
