Tata Chemicals Approves NCDs Worth Rs 1,700 Crore On Private Placement Basis
The allotment of 1,70,000 NCDs, having face value ₹1,00,000 apiece, was approved for cash to identified investors on private placement basis,
Tata Chemicals Ltd.s' Board of Directors approved the issue of non-convertible Debentures worth ₹1,700 crore, on private placement basis, on Tuesday according to an exchange filing on Bombay Stock Exchange.
The allotment of 1.7 lakh NCDs, having face value of Rs 1 lakh apiece, was approved for cash to identified investors on private placement basis,, aggregating to Rs 1,700 crore, for three years, to identified investors on private placement basis.
"The NCDs have a fixed rate coupon of 7.81% and have been issued based on multiple yield allotment method. The NCDs will be listed on the Debt Segment of National Stock Exchange of India Ltd." the filing said.
Tata Chemicals reported a decline in net profit in the first quarter of fiscal 2025, despite meeting analysts' estimates, according to NDTV Profit.
"The company posted a net profit of Rs 190 crore in the quarter-ended June, in comparison with Rs 587 crore in the year-ago period, according to an exchange filing on Monday. Analysts tracked by Bloomberg had estimated a profit of Rs 191.9 crore," NDTV Profit reported.
Shares Of Tata Chemicals rose 0.39% to trade at Rs 1,059.65 apiece, according to NSE data. This compares to a 0.51% rise in the NSE Nifty 50.
