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Tata Communications to raise Rs 1,750 crore through NCDs

The company will issue 1,75,000 rated, unsecured, redeemable, listed NCDs with a face value of Rs 1 Lakh on private placement basis, aggregating to Rs 1,750 crore. The said debentures will be allotted on 29 August 2023 and will mature after 3 years from date of allotment. The NCDs are proposed to be listed on the wholesale debt market segment of the National Stock Exchange of India (NSE).

Tata Communications is a global digital ecosystem enabler powering today’s fast-growing digital economy in more than 190 countries and territories. Leading with trust, it enables digital transformation of enterprises globally with collaboration and connected solutions, core and next gen connectivity, cloud hosting and security solutions and media services.

Tata Communications’ consolidated net profit declined 29.81% to Rs 381.69 crore despite of 10.69% jump in revenue from operations to Rs 4,771.36 crore in Q1 FY24 over Q1 FY23.

The scrip hit all time high at Rs 1,826.20 in intraday today. Capital Market

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