trending Market Intelligence /marketintelligence/en/news-insights/trending/s2dt_gkjgfuqzlwjpzuxkq2 content esgSubNav
In This List

Tata Capital Financial to raise up to 75B rupees in debentures


Banking Essentials Newsletter: 7th February Edition

Case Study

A Bank Outsources Data Gathering to Meet Basel III Regulations


Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)


Banks’ Response to Rising Rates & Liquidity Concerns

Tata Capital Financial to raise up to 75B rupees in debentures

Tata Capital Financial Services Ltd. plans to raise up to 75 billion rupees by issuing nonconvertible debentures, the Press Trust of India reported Sept. 4.

The nonbank lender will raise 20 billion rupees through the issue of three-, five- and 10-year notes, and retain oversubscription of up to 55 billion rupees.

The debentures will have a coupon rate of between 8.70% and 9.10% depending on tenor and investor class, the report said. The issue will open Sept. 10.

Tata Capital Financial Services plans to use proceeds from the sale for on-lending to businesses.

Its managing director and CEO Rajiv Sabharwal added the company has no plans for an IPO, given its healthy capital adequacy and backing of its parent Tata group.

As of Sept. 4, US$1 was equivalent to 71.47 Indian rupees.