The funds raised will be utilised among other things for refinancing of existing loans, an exchange filing stated.
According to the filing, the Board of Directors at its meeting held on Monday has approved issuance in one or more series/tranches, non-cumulative, redeemable, taxable, listed, and rated securities in the form of NCDs/bonds/other debt securities up to an aggregate amount not exceeding Rs 4,500 crore (Debt Securities) or its equivalent in one or more currencies on a private placement basis.
Tata Power’s board has given the green light to raise funds up to Rs 4,500 crore through debt securities, aimed at refinancing existing loans and various other needs. This initiative will see the company issue non-convertible debentures or alternative debt instruments via private placement. Shareholders previously endorsed this plan at their annual general meeting, with issuances planned across multiple series and currencies as required.
The proposal was earlier approved by shareholders at the annual general meeting held on July 4, 2025.