Tata Power Q4FY21 operating profit down 19% to Rs 1,445 cr

Tata Power’s board of directors has approved raising up to Rs 5,500 crore via private placement of secured non-convertible debentures (NCDs) to corporates, banks or financial institutions.

The funds, to be raised in one or more tranches, will be used to refinance the existing loans, the company said after its board meet for the January-March 2021 quarter results.