Tata Communications plans to raise Rs 17,500 million via NCDs

Tata Communications Limited has announced its plans to issue non-convertible debentures (NCDs) to raise Rs 17,500 million. The NCDs will mature three years from the deemed date of allotment, which is August 29, 2023.

As per a regulatory filing, the issuance will be done on a private placement basis to eligible investors. A total of 175,000 NCDs with a face value of Rs 100,000 each will be issued by the company, taking the total toRs 17,500 million.

Additionally, the issue is subject to fixed rate coupon basis bidding at the National Stock Exchange of India’s (NSE) electronic book provider (EBP) platform, with an annual interest payment schedule.