Tata Power receives shareholder nod to raise Rs 55 billion via NCDs

Tata Power Company Limited has received shareholder approval to raise Rs 55 billion via non-convertible debentures (NCDs) on a private placement basis. The board has approved the issuance of non-cumulative, redeemable, taxable, listed, rated securities in the form of NCDs in one or more tranches up to an aggregate amount not exceeding Rs 55 billion.