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Tata Steel on Friday said its committee of directors has approved raising ₹670 crore through issuance of debentures.
“The committee of directors has today approved allotment of 6,700...unsecured, redeemable, rated, listed non-convertible debentures (NCDs) having face value of ₹10,00,000 each for cash aggregating to ₹670 crore, to identified investors on private placement basis,” the company said in a BSE filing.
The NCDs are proposed to be listed on the wholesale debt market segment of the BSE, it added. Tata Steel stock was trading at ₹295, up 2.86 per cent, on the BSE.
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