REG - Tata Steel Limited - Allotment of Non-Convertible Debentures (NCDs)

TATA SteelAnnouncement

27/03/2024 07:30

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RNS Number : 4849I  Tata Steel Limited  27 March 2024

 

March 27, 2024

 

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 March 19, 2024, intimating that the
Committee of Directors ('COD') of the Board had approved the issue of fixed
rate, unsecured, redeemable, rated, listed NCDs aggregating to ₹2,700 crore,
on private placement basis.

In this connection, we wish to inform you that the coupon rate of the proposed
NCDs was discovered at 7.79% on the basis of multiple yield allotment method
through the Electronic Book Building Platform of BSE Limited on March 26,
2024.

 

The COD has today, i.e., March 27, 2024, approved the allotment of 2,70,000 -
7.79% Fixed rate, Unsecured, Redeemable, Rated, Listed, NCDs having face value
₹1,00,000/- each, for cash, aggregating to ₹2,700 crore, for a tenor of 3
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 of 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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