Tata Metal Board raises Rs 2,000 crore by NCD challenge

The metal main stated its board has accepted the allotment of 20,000 fixed-rate, unsecured, redeemable, rated, listed, non-convertible debentures (NCDs) with a face worth of Rs 10 lakh, on the idea of personal placement. however Rs 2,000 crore. ,

The NCDs had been launched in two totally different collection. Collection-1 debentures consisted of 5,000 NCDs amounting to Rs 500 crore with a set coupon charge of seven.50% p.a. The Collection-II debentures consisted of 15,000 NCDs amounting to Rs 1,500 crore with a set coupon charge of seven.76% every year.

In the meantime, Collection-1 debentures have a maturity date of 20 September 2027, Collection-2 debentures have a maturity date of 20 September 2032.

The NCDs are proposed to be listed on the Wholesale Debt Market (WDM) phase of BSE.

Tata Metal Group is likely one of the prime world metal firms with an annual crude metal capability of 34 million tonnes every year.

On a consolidated foundation, the metal main’s web revenue fell 21% to Rs 7,714 crore, pushed by an 18.8% rise in web gross sales from Rs 63128.32 crore in Q1 FY22 to Rs 63128.32 crore in Q1 FY23.

Shares of Tata Metal had been up 0.28% at Rs 106.15 on the BSE.

operated by Capital Markets – Reside Information

(This story has not been edited by Enterprise Normal workers and is routinely generated from a syndicated feed.)

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