Tata Power's arm raises Rs 350 crore via NCDs
21st Jul 2020

Tata Power’s wholly-owned subsidiary -- Coastal Gujarat Power (CGPL) has raised Rs 350 crore through non-convertible debentures (NCDs). The company has successfully issued and allotted Unsecured, Rated, Listed, Taxable, Guaranteed, Redeemable, NCDs on private placement basis for a tenor of 3 years.

The NCDs have been rated AA (CE) by India Ratings & Research and will carry a coupon rate of 8.55 per cent, payable annually.

Tata Power is India’s largest integrated power company.