Financial Daily
from THE HINDU group of publications
Thursday, January 11, 2001
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Financial Daily from THE HINDU group of publications Thursday, January 11, 2001 |
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Tata Power raises Rs 200 cr through pvt placement
Our Bureau
MUMBAI, Jan. 10
TATA Power Co Ltd has raised Rs 200 crore through a private placement of debentures. The fully-secured, non-convertible and redeemable debentures are at a coupon rate of 10.9 per cent.
The debentures will be redeemed in five equal instalments over a five-year period, their average tenure being 2.5 years. The debentures have been rated `AAA' by Crisil and `LAAA' by ICRA, said a press release.
The proceeds from the placement will be deployed for the expansion of generation capacity in the captive power projects located in Wadi and Jojobera and for general corporate purposes.
The placement was lead managed by Darashaw and Co and Tata Financial Services was the advisor of the issue.
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