Tata Steel raises Rs 2,000 cr through NCDs

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New Delhi, May 8 (UNI) Country's leading steel producer Tata Steel Ltd today said it has raised Rs 2,000 crore through a private placement of Redeemable Non Covertible Rupee Debentures (NCDs), including Green Shoe option.

The issue opened with an initial size of Rs 750 crore on May 5, 2008 and closed on May 6. The deemed allotment date for the NCDs is May 7, a company statement said.

The issue consists of three series, including a seven-year maturity fixed rate series of Rs 620 crore, a three-year maturity floating rate series of Rs 1,090 crore and a three-year maturity fixed rate series of Rs 290 crore.

An applicatio has been made to list the NCDs on the NCDs on the Wholesale Debt Market segment of the National Stock Exchange.

Each debenture carries a face value of Rs 10 lakhs and is being issued at par, it added.

UNI SR AK KP1154

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