Tata Power to raise Rs 3,500 cr via NCDs

The board of Tata Power today gave its nod to raise funds up to Rs 3,500 crore through non convertible debentures (NCDs).

"In a meeting today, the Board has approved issuance in one or more tranches, of non-cumulative, redeemable, taxable, listed, rated securities in the form of NCDs up to an aggregate amount not exceeding Rs 3,500 crore on private placement basis to eligible investors permitted to invest in the NCDs under applicable laws," the company said in a BSE filing.

The company has reported a marginal 1.13 per cent fall in its consolidated profit after tax (PAT) at Rs 612 crore in the quarter ended December 2017.

It had reported a PAT of Rs 619 crore in the same period a year ago.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel