Tata Power board okays raising up to Rs 5,500 cr via NCDs

NEW DELHI: Tata Power NSE -2.51 % said its board on Wednesday approved a proposal to raise up to Rs 5,500 crore through issuance of non-convertible debentures.

“Board has approved issuance in one or more tranches, of non- cumulative, redeemable, taxable, listed, rated securities in the form of Non-Convertible Debentures (NCDs) upto an aggregate amount not exceeding Rs 5,500 crore…,” it said in a BSE filing.