Tata Capital Limited has informed the Exchange regarding allotment of 50500 Non Convertible Securities.
TATACAP · price
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Tata Capital Limited has allotted 50,500 Secured Redeemable NCDs totaling Rs. 505 crore via private placement. Each NCD has a face value of Rs. 1 lakh with a coupon rate of 7.97% p.a. The debentures have a tenor of 1,826 days (~5 years) maturing on May 12, 2031, with bullet redemption. The issue is rated AAA by both CRISIL and ICRA, indicating highest credit quality. The NCDs are secured by a pari-passu charge on the company's receivables and book debts with a security cover of 1.0x the outstanding value. Interest is payable annually on May 12 from 2027 to 2031.
The AAA-rated NCD issuance at 7.97% is a standard debt raise for the NBFC, reflecting stable borrowing costs. No direct equity dilution as NCDs are non-convertible. Positive for the company's lending capacity and capital base.