Tata Capital Limited has informed the Exchange regarding allotment of 34300 securities pursuant to Non Convertible Securities.
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Tata Capital has allotted 34,300 secured, redeemable non-convertible debentures (NCDs) worth Rs. 343 crore via private placement. The NCDs are split into two tranches — Rs. 235 crore at 7.66% XIRR and Rs. 108 crore at 7.6596% XIRR. They have a residual tenure of about 2,898 days (roughly 7.9 years), maturing on February 8, 2034, with a bullet redemption at face value of Rs. 1 lakh per NCD. The issue is secured by a pari-passu charge on the company's receivables, book debts, and investments, with a 1x security cover. The NCDs carry the highest credit rating of AAA/Stable from both CRISIL and ICRA, and will be listed on NSE.
This is a routine debt-raising move for a top-rated NBFC and has no direct impact on equity shareholders. The AAA/Stable rating and tight coupon (~7.66%) reflect strong investor confidence in Tata Capital's credit quality, while the proceeds will likely support its lending operations.