Tata Communications may raise up to Rs 650 crore via bonds

New Delhi: Tata Group’s telecom arm Tata CommunicationsNSE 16.32 % is considering raising Rs 500 crores via a bond issue, the company informed the stock exchanges on Monday.

“A meeting of the Board of Directors of Tata Communications Limited is scheduled to be held on Wednesday, 15 April 2020 via videoconferencing, to inter alia, consider and approve fund raising by way of private placement of Rated, Secured, Listed, Redeemable Non-Convertible Debentures (“NCDs”) for ₹500 Crores + Green Shoe Option of ₹150 Crores to be issued and allotted as may be decided by the Board of Directors or a committee,” the company said in an exchange filing.