Tata Capital Limited has informed the exchange regarding allotment of Non-Convertible Debentures.
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Tata Capital Limited has allotted 50,500 Secured Redeemable NCDs via private placement totaling Rs. 505 crore. Each NCD has a face value of Rs. 1 lakh with a coupon rate of 7.97% p.a. The NCDs will mature on May 12, 2031, with interest payable annually. The debentures are secured by a pari-passu charge on the company's receivables, book debts, and investments with a 1.0x security cover. The NCDs carry top ratings of CRISIL AAA/Stable and ICRA AAA/Stable, and will be listed on NSE.
This is a routine debt issuance by Tata Capital. The AAA ratings and 7.97% coupon reflect strong creditworthiness. No immediate impact on equity holders, but the Rs. 505 crore raised will support the company's lending operations.