Tata Power Company has successfully completed its offering of Perpetual Debentures of Rs 1,500 crore. The mandated joint lead arrangers for the issuance are Standard Chartered Bank and Yes Bank.
The unique features of these debentures are that they are perpetual in nature with no maturity or redemption and are callable only at the option of the Company. The debentures which will be listed on National Stock Exchange of India (NSE) have face value of Rs 10,00,000 each.
The company has registered marginal growth of 2.36% in its net profit after tax and statutory appropriations for FY11 at Rs 970.01 crore as compared to Rs 947.65 crore for the previous year. Its total income has increased marginally by 0.44% at Rs 7412.06 crore for the year from Rs 7379.85 crore in previous year.
