Tata Communications plans to raise Rs 1,750cr via NCD issuance
Tata Communications, a part of Tata Group, Wednesday said it plans to raise ₹1,750 crore through issuance of non-convertible debentures (NCDs).
The deemed date of allotment of the NCDs is August 29 and they will mature after three years of the allotment date.
Tata Communications in a regulatory filing said the issuance will be done on a private placement basis to eligible investors. The company will issue a total of 175,000 NCDs of face value ₹1,00,000 each aggregating to ₹ 1,750 crore, the filing said.
«The NCDs are proposed to be listed on the wholesale debt market segment of the National Stock Exchange of India Limited,» it added.
The issue is on fixed rate coupon basis bidding at Electronic Book Provider (EBP) platform of NSE and the bidding on EBP can be on uniform yield/multiple yield allotment basis. The schedule of interest payment will be annual.
Meanwhile, the company launched its global, cloud-based 5G roaming lab, enabling mobile operators to trial 5G standalone network use cases before introducing the service to their subscribers.
