Tata Power Company’s 100% subsidiary - Tata Power Renewable Energy (TPREL), has issued and allotted Guaranteed, Unsecured, Non-Cumulative, Redeemable, Taxable, Listed, Rated, Non-Convertible Debentures (NCDs) for an amount of Rs 425 crore on private placement basis. These NCDs have been issued on a private placement basis through a private placement offer letter cum information memorandum.
The NCDs have been rated AA (SO) by CARE. The NCDs will carry a spread of 0.13% above Base Rate of State Bank of India (fully floating) payable annually and are guaranteed by the company. The proceeds from the NCDs will be primarily used to prepay existing higher cost debt in TPREL.
Tata Power is India’s largest integrated power company with a growing international presence. The company together with its subsidiaries and jointly controlled entities has an installed gross generation capacity of 8,669 MW and a presence in all the segments of the power sector.
| Company Name | CMP |
|---|---|
| NTPC | 402.20 |
| Tata Power | 436.00 |
| Adani Power | 225.15 |
| Power Grid Corp | 313.90 |
| Torrent Power | 1724.80 |
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