Tata Chemicals raises ₹1,700 crore through NCDs

In a regulatory filing on Tuesday, Tata Chemicals said an internal committee, constituted by its board, has approved the allotment of 1,70,000 NCDs, having a face value ₹1 lakh each for cash, aggregating to ₹1,700 crore, for a tenor of three years, to identified investors on private placement basis.

The NCDs have a fixed rate coupon of 7.81% and have been issued based on multiple yield allotment methods. The NCDs will be listed on the Debt Segment of National Stock Exchange of India Limited (NSE), the filing said.

Recently, Tata Chemicals reported a 72% decline in its consolidated net profit to ₹150 crore for the first quarter of this fiscal year on lower income and higher expenses.

Its net profit stood at ₹532 crore in the year-ago period.

Net profit from continuing operations declined to ₹175 crore from ₹578 crore. Total income also declined to ₹3,836 crore in the April-June period of 2024-25 from ₹4,267 crore in the corresponding period of the previous year, according to a regulatory filing.

Total expenses increased to ₹3,621 crore from ₹3,527 crore during the period under review.

A part of over $165 billion Tata Group, Tata Chemicals Limited is a leading supplier to Glass, Detergent, Industrial and Chemical sectors. The company has a strong position in the crop protection business through its subsidiary company, Rallis India Limited.