Tata Capital Limited has informed the Exchange regarding allotment of 7650 Non Convertible Securities.
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Tata Capital Limited has allotted 7,650 Secured Redeemable Non-Convertible Debentures (NCDs) worth Rs. 765 crore via private placement. Each NCD has a face value of Rs. 10 lakh with a coupon rate of 8.00% (XIRR 7.88%). The debentures carry a bullet redemption structure maturing on October 19, 2027, with semi-annual interest payments due on October 19, 2026 and October 19, 2027. The NCDs are secured by pari-passu charge on the company's receivables and book debts with a security cover of 1.00x the outstanding value. The instruments carry top-tier credit ratings of CRISIL AAA/Stable and ICRA AAA/Stable, indicating very low credit risk.
The NCD issuance strengthens Tata Capital's borrowing profile with AAA-rated debt at 8% coupon, which is competitive for a high-quality issuer. This private placement provides Rs. 765 crore in funding for the company's lending operations. The bullet repayment structure gives flexibility in cash flow management.