Issue of Non-Convertible Debentures by Tata Steel aggregating to Rs 2,700 crore

The issue will be bid on a fixed rate coupon basis at the Electronic Book Provider (EBP) Platform of BSE. Bidding on EBP can be done on a multiple-yield allotment basis.

Issue of Non-Convertible Debentures by Tata Steel aggregating to Rs 2,700 crore

The Committee of Directors (constituted by the Board of Directors of Tata Steel Limited),  considered and approved the issue of NCDs.

The type of securities proposed to be issued by the company (viz. equity shares, convertibles, etc) is Fixed Rate, Unsecured, Redeemable, Rated, Listed, and NCDs while the type of Issuance (further public offering, rights issue, depository receipts (ADR/GDR), qualified institutional placement, preferential allotment, etc.

The Securities are issued to eligible investors on a Private Placement basis and the total number of securities proposed to be issued or total amount for which the securities will be issued is (approximately) 2,70,000 NCDs of face value Rs 1,00,000 each aggregating to Rs 2,700 crore and the size of the issue is 2,70,000 NCDs of face value ?1,00,000 each aggregating to ?2,700 crore.

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The bidding of the issue is Fixed Rate Coupon basis at the Electronic Book Provider (EBP) Platform of BSE. The bidding on EBP can be on a multiple-yield allotment basis.

Non-convertible debentures fall under the debt category. They cannot be converted into equity or stocks. NCDs have a fixed maturity date and the interest can be paid along with the principal amount either monthly, quarterly, or annually depending on the fixed tenure specified.

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