Home Featured Tata Power arm WREPL raises Rs 1,200 Cr through debentures
Tata Power arm WREPL raises Rs 1,200 Cr through debentures

Tata Power arm WREPL raises Rs 1,200 Cr through debentures

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Tata Power today said its arm Welspun Renewables Energy has raised Rs 1,200 crore through issuance of non-convertible debentures on private placement basis. Welspun Renewables Energy Private Ltd (WREPL) has successfully issued and allotted “non-convertible debentures of face value of Rs 10 lakh each, aggregating to Rs 1,200 crore on a private placement basis”, Tata Power said in a BSE filing today.

According to statement, the NCDs have been rated AA(SO) by CARE Ltd. They will carry a coupon of 8 per cent per annum payable annually. The proceeds from the NCDs will be primarily used to prepay existing higher cost debt in WREPL and its subsidiaries, it stated. WREPL is a wholly-owned step down subsidiary of Tata Power which has been recently acquired, the filing said.

Source:PTI
Anand Gupta Editor - EQ Int'l Media Network

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