MoneyWorks4Me

Tata Power's arm raises Rs 350 crore via NCDs

21 Jul 2020 Evaluate

Tata Power’s wholly-owned subsidiary -- Coastal Gujarat Power (CGPL) has raised Rs 350 crore through non-convertible debentures (NCDs). The company has successfully issued and allotted Unsecured, Rated, Listed, Taxable, Guaranteed, Redeemable, NCDs on private placement basis for a tenor of 3 years.

The NCDs have been rated AA (CE) by India Ratings & Research and will carry a coupon rate of 8.55 per cent, payable annually.

Tata Power is India’s largest integrated power company.

Peers
Company Name CMP
NTPC 329.35
Tata Power 368.30
Adani Power 205.00
Power Grid Corpn. 263.50
Adani Energy Solut. 1382.00
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