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.)

Pricey reader,

Enterprise Normal has at all times labored arduous to offer up to date data and commentary on occasions which are of curiosity to you and have wider political and financial implications for the nation and the world. Your encouragement and fixed suggestions on the best way to enhance our providing has solely strengthened our resolve and dedication to those beliefs. Even throughout these tough instances arising out of COVID-19, we’re dedicated to maintaining you knowledgeable and up to date with related information, authoritative views and sharp feedback on related points.
Nevertheless, we now have a request.

As we grapple with the financial impression of the pandemic, we want your assist much more in order that we will proceed to offer you extra high quality content material. Our subscription mannequin has obtained an encouraging response from lots of you who’ve subscribed to our on-line content material. Subscribing to extra of our on-line content material can solely assist us obtain our objectives of offering you with higher and extra related content material. We consider in unbiased, unbiased and credible journalism. Your assist by extra subscriptions can assist us observe the journalism we’re dedicated to.

assist high quality journalism and Subscribe to Enterprise Normal,

digital editor



Supply hyperlink