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Tata Power on Thursday said it has raised ₹1,000 crore through the issuance of non-convertible debentures on a private placement basis.
Tata Power said it has allotted 10,000 unsecured, redeemable, taxable, listed, rated, non-convertible debentures (NCDs) worth ₹1,000 crore, on private placement basis, in its regulatory filing.
The maturity of Series I NCDs worth ₹500 crore is scheduled on January 8, 2030 while the Series II NCDs worth ₹500 crore would mature on December 29, 2032, it added.
These are fixed rate NCDs with annual coupon payment, the company said in its regulatory filing. The non-convertible debentures (NCDs) would be listed on BSE.
Japan’s MUFG Bank last Friday announced that it has executed a ₹450 crore sustainable trade finance facility for Tata Power, the company said in a statement. This credit facility was extended for two solar projects under TP Kirnali Limited (TPKL), the company said in a statement.
Tata Power reported a rise of 85 per cent rise in its consolidated net profit to ₹935.18 crore in the September 2022 quarter. The company posted a strong rise in profits mainly on the back of higher revenue. The consolidated net profit of the company was ₹505.66 crore in the corresponding quarter last fiscal.
The total income of the company rose by 39 per cent to ₹14,181.07 crore in the quarter from ₹10,187.33 crore a year ago.
The company’s consolidated EBITDA for the September quarter was up by 18 per cent at ₹2,043 crore as against ₹1,732 crore in the corresponding quarter last fiscal on account of higher availability in Mundra and capacity addition in renewables and higher efficiencies achieved in the distribution business specially in Odisha Discoms.
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John Miller has been writing about science, gaming, and tech culture for over a decade. He’s a top-rated reviewer with extensive experience helping people find the best deals on tech and more.
