REG - Tata Steel Limited - Allotment of NCDs on Private Placement basis

TATA SteelAnnouncement

21/02/2025 08:15

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RNS Number : 0204Y  Tata Steel Limited  21 February 2025

 

February 21, 2025

London Stock
Exchange

London

 

Dear Madam, Sir,

Sub: Allotment of Non-Convertible Debentures (NCDs) on Private Placement basis

 

This has reference to our letter dated February 14, 2025, intimating that the
Committee of Directors ('COD') of the Board at its meeting held on February
14, 2025, had approved the issue of Fixed Rate, Unsecured, Redeemable, Rated,
Listed, NCDs aggregating to ₹3,000 crore, on private placement basis.

 

In this connection, we wish to inform you that the coupon rate of the proposed
NCDs was discovered at 7.65% on the basis of multiple yield allotment method
through the Electronic Book Provider Platform of BSE Limited on February 20,
2025.

 

The COD has today, i.e., February 21, 2025, approved the allotment of 3,00,000
- 7.65% Fixed Rate, Unsecured, Redeemable, Rated, Listed, NCDs having face
value ₹1,00,000/- each, for cash, aggregating to ₹3,000 crore, for a tenor
of 5 years, to identified investors on private placement basis, on the terms
and conditions as mentioned in the Placement Memorandum for the said Issue and
other transaction documents. The NCDs have been issued on the basis of
multiple yield allotment method prescribed by BSE Limited and the Securities
and Exchange Board of India, and the issue price of the NCDs has been
determined accordingly. The NCDs are proposed to be listed on the Wholesale
Debt Market Segment of BSE Limited.

This disclosure is made in terms of Regulation 30 read with Regulation 51 of
the Securities Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015, as amended.

This is for your information and records.

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