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Maithon Power Ltd, a 74:26 joint venture between Tata Power and Damodar Valley Corporation (DVC), has issued and allotted secured non-convertible debentures (NCDs) worth ₹500 crore on a private placement basis.
Tata Power, in a BSE statement on Monday, said the NCDs have been rated AA- (with stable outlook) by Crisil. The NCDs carry a floating rate of interest linked to the base rate published by HDFC Bank.
These NCDs have been issued on a private placement basis through a private placement offer letter-cum-information memorandum, the statement said.
Jharkhand plantMaithon Power has successfully implemented a 1,050 MW plant near Dhanbad, Jharkhand. According to the company, it was India’s first 525 MW unit thermal power plant using subcritical technology, and the first country’s first PPP venture plant.
It was developed to supply power to New Delhi, Jharkhand, West Bengal and Kerala.
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