Tata Power to raise up to Rs 5,500 crore via NCDs

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New Delhi: Tata Power Monday said its Board has approved plan to raise up to Rs 5,500 crore through issuance of non-convertible debentures (NCDs) on a private placement basis. "The board has approved issuance in one or more tranches, of non-cumulative, redeemable, taxable, listed, rated securities in the form of non-convertible debentures up to an aggregate amount not exceeding Rs 5,500 crore on private placement basis," Tata Power said in a BSE filing. Shares of Tata Power settled 12.40 per cent higher at Rs 77.50 apiece on BSE.

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