Tata Power raises Rs 350 cr via NCDs

1. Tata Power's arm CGPL - which runs Mundra power plant - has raised Rs 350 cr by issuing non-convertible debentures (NCDs) on private placement basis. 
2. "Coastal Gujarat Power Ltd (CGPL), a wholly-owned subsidiary of the Company, has successfully issued and allotted Unsecured, Rated, Listed, Taxable, Guaranteed, Redeemable, Non-Convertible Debentures for an amount of Rs 350 crore on private placement basis issued for a tenor of 3 years.
3. The NCDs have been rated AA (CE) by India Ratings & Research and will carry a coupon rate of 8.55%, payable annually.