Interest rate of up to 8.85% per annum — for Option IV, 10 years — annual option
- Ratings — CRISIL AAA/Stable by CRISIL Ltd (‘CRISIL’) and CARE AAA; Stable by CARE Ratings Ltd (‘CARE Ratings’)
- Tranche II issue size: Rs412,600 lakh (out of which Rs299,790 lakh secured & Rs112,810 lakh unsecured subordinated)
- Interest pay-out on annual basis for all options
- Minimum application size Rs10,000collectively across all options ranging from 3-10 years
- Allotment on ‘first-come, first-served’basis
Tata Capital Financial Services Ltd (the ‘Company’ or the ‘Issuer’) — a Systemically Important Non-Deposit taking Non-Banking Financial Company (‘ND-SI-NBFC’) focused on providing a broad suite of financing products customized to cater to the needs of various segments — proposes to open on August 13, 2019, a public issue of secured, redeemable, non-convertible debentures of face value Rs1,000 each (‘secured NCDs’) of up to Rs299,790 lakh and unsecured, subordinated, redeemable, non-convertible debentures of face value of Rs 1,000 each (‘unsecured NCDs’) up to Rs112,810 lakh, aggregating up to Rs 412,600 lakh (‘Tranche II issue’). The base issue size of Tranche II issue is Rs 50,000 lakh, with an option to retain oversubscription of up to Rs 362,600 lakh, aggregating up to Rs 412,600 lakh (‘residual shelf limit’).
The Tranche II issue is scheduled to close on August 23, 2019, with an option of early closure, or extension as decided by the Board of Directors of the company (‘Board’), or the Working Committee of the Board.
‘Tata Capital Financial Services is well-diversified, with assets across retail, SMEs and commercial finance. It helps us cater to a wide spectrum of customers. Our strong parentage, AAA ratings and commitment to transparency position us well in the industry. We continue to focus on our strategy of synergy, simplicity and using digital as a differentiator. It allows us to meet the expectations of the ever-evolving Indian customer. We look forward to being a significant contributor to the India growth story’
- Rajiv Sabharwal, MD-CEO, Tata Capital Ltd