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Earlier, India Ratings (a Fitch Group company) upgraded the debt instrument rating of Tata Steel Limited from ‘AA+’ Positive to ‘AAA’ Stable.
Tata Steel To Raise Rs 3000 Cr Via NCDs.
Tata Steel NCD Issue: Tata Steel on Friday announced an NCD issue of Rs 3000 crores on a private placement basis. The issue will be listed on wholesale debt market segment of BSE Limited.
Tata Steel’s Board in its meeting held today i.e. February 14, 2025 approved the issue of NCDs in the number of 3,00,000 of face value of Rs 1,00,000 each amounting to Rs 3,000 crore.
The NCD issue will be offered at a fixed rate of interest.
According to the exchange filing, the tentative date of allotment for NCD issue is set at February 21, 2025. The tentative date of maturity is February 21, 2030.
Tata Steel Share Price
On Friday, Tata Steel’s shares fell -1.32 per cent during the intraday session to settle at Rs 134.40 per share. The scrip opened at Rs 136.20 per share, against the previous day close at Rs 136.20 per share.
Tata Steel has a market cap of Rs 1.67 lakh crore, making it a constituent of BSE Sensex.
Tata Steel Rating Gets Upgraded
Earlier, India Ratings (a Fitch Group company) upgraded the debt instrument rating of Tata Steel Limited from ‘AA+’ Positive to ‘AAA’ Stable.
The upgrade reflects the likelihood of reduced losses at TSL’s UK operations over FY26-FY27 and eventual profitability, given the UK government has undertaken to fund GBP500 million of the total GBP1.25 billion capex for the replacement of blast furnaces with more cost-efficient and environment-friendly electric arc furnace. TSL successfully shut down both its blast furnaces at the UK in September 2024. As per management, TSL’s UK assets are likely to breakeven in 2HFY26. Any higher-than-expected capex at the UK assets however will be a key monitorable.
