Tata Communications may raise up to Rs 650 crore via bonds

Tata Group’s telecom arm Tata Communications is considering raising Rs 500 crores via a bond issue, the company informed the stock exchanges on Monday.

“A meeting of the Board of Directors of Tata Communications Limited is scheduled to be held on Wednesday, 15 April 2020 via videoconferencing, to inter alia, consider and approve fund raising by way of private placement of Rated, Secured, Listed, Redeemable Non-Convertible Debentures (“NCDs”) for ₹500 Crores + Green Shoe Option of ₹150 Crores to be issued and allotted as may be decided by the Board of Directors or a committee,” the company said in an exchange filing.

Tata Communication’s shares closed 15.14% higher at Rs 331.20 per piece on BSE on Monday.

―Business Journal