Tata Capital Limited has informed the Exchange regarding allotment of 295000 Non Convertible Securities.
TATACAP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Tata Capital Limited has allotted 2,95,000 Secured Redeemable NCDs worth Rs.2,950 crore via private placement. Each NCD has a face value of Rs.1 lakh with an initial coupon rate of 7.42% p.a. (linked to 3-month T-Bill rate + 210 bps spread). The debentures mature on February 21, 2029, with interest payable annually. The NCDs are secured by a pari-passu charge on Tata Capital's receivables and book debts with 1.0x asset cover. Both CRISIL and ICRA have rated the bonds AAA/Stable, reflecting high credit quality. The NCDs will be listed on NSE.
This is routine debt issuance by a well-rated NBFC. The AAA-rated NCDs at 7.42% reflect current market conditions and do not signal distress. Shareholders can view this positively as it represents funding for lending operations, but the announcement has no immediate equity impact.