Tata Chemicals surges on getting nod to raise Rs 1,700 crore via NCDs
Tata Chemicals is currently trading at Rs. 1059.00, up by 6.25 points or 0.59% from its previous closing of Rs. 1052.75 on the BSE.
The scrip opened at Rs. 1054.95 and has touched a high and low of Rs. 1064.00 and Rs. 1049.00 respectively. So far 12041 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1349.70 on 07-Mar-2024 and a 52 week low of Rs. 933.00 on 29-Feb-2024.
Last one week high and low of the scrip stood at Rs. 1064.00 and Rs. 1012.00 respectively. The current market cap of the company is Rs. 26968.50 crore.
The promoters holding in the company stood at 37.98%, while Institutions and Non-Institutions held 33.70% and 28.32% respectively.
Tata Chemicals has received approval to raise Rs 1,700 crore through allotment of 1,70,000 Listed, Unsecured, Rated, Redeemable, Taxable, Non-Cumulative, Non-convertible Non-Convertible Debentures (NCDs), having face value Rs 1 lakh each for a tenor of 3 years, to identified investors on private placement basis, on the terms and conditions as mentioned in the transaction documents for the said Issue. Internal Committee of the Board of Directors of the company on August 20, 2024, has approved the same
The NCDs have a fixed rate coupon of 7.81% and have been issued based on multiple yield allotment method. The NCDs will be listed on the Debt Segment of National Stock Exchange of India Limited (NSE)
Tata Chemicals is the second-largest producer of soda ash in the world with manufacturing facilities in India, UK, Kenya and USA. It is India’s leading crop nutrients player and a leading player in crop protection business through its subsidiary Rallis India.
