INSUBCONTINENT EXCLUSIVE:
Tata Capital, the NBFC arm of the Tata Group, is looking to raise Rs 7,500 crore through a public issue of non-convertible debentures (NCD)
exchange and is likely to receive approval from the ROC soon
for Tata Capital declined to comment on the subject.
Tata Capital operates across business verticals such as commercial finance,
AA+, with upgrades from rating agencies such as Crisil and ICRA.
Tata Capital will offer NCDs with a face value of Rs 1000
These NCDs will have tenures of 3 years, 5 years and 10 years, with interest rates in the range of 8.7-9%
The company plans to pay 10 basis points more to retail and HNI investors
Of the total issue size, 30% will be reserved for retail investors, who can invest up to Rs 10 lakhs.
