Tata Power has announced the issuance of non-convertible debentures (NCDs) worth ₹2,000 crores through private placement, as disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Issue Details and Structure

The company will issue 2,00,000 NCDs with a face value of ₹1,00,000 each, aggregating to ₹2,000 crores. These are unsecured, senior, redeemable, rated, listed, taxable, non-cumulative non-convertible debentures being offered on a private placement basis to all eligible investors.

Maturity and Redemption Terms

The NCDs are structured in two series with different maturity periods. The deemed date of allotment is tentatively set for December 19, 2025.

Interest and Payment Structure

The NCDs will carry a fixed rate coupon determined through price bidding at the Electronic Bidding Platform (EBP) of BSE. The bidding on EBP can be conducted on uniform or multiple yield allotment basis. Interest payments will be made annually, except upon final maturity where the coupon will be payable on the final redemption date.

Listing and Credit Rating

The NCDs are proposed to be listed on the debt segment of Bombay Stock Exchange of India Limited (BSE). The debentures carry strong credit ratings of AA/Stable from both India Ratings and Research Private Limited and CRISIL Ratings Limited, indicating high credit quality and low credit risk.

Regulatory Compliance

This disclosure continues the company's previous intimation dated May 12, 2021, and complies with Regulation 30 and 51 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. The issuance also adheres to SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Tata Power Company Ltd has reported an increase in shareholding by Life Insurance Corporation of India (LIC), crossing the 5% threshold that triggers mandatory disclosure under SEBI regulations. The state-owned insurance giant filed the disclosure on December 12, 2025, following its latest share acquisition in the power utility company.

Transaction Details

LIC acquired 4,50,000 shares of Tata Power through market purchase on December 11, 2025. This transaction increased the insurer's total shareholding from 15,96,13,645 shares to 16,00,63,645 shares.

Regulatory Compliance

The disclosure was made under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulation mandates disclosure by any person or entity holding more than 5% shares in a listed company. LIC's crossing of this threshold necessitated the formal notification to Tata Power's management and the stock exchanges.

Share Capital Context

At the time of the transaction, Tata Power's equity share capital stood at ₹3,19,53,39,547.00. The company's shares are listed on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), where the acquisition took place through regular market operations.

Institutional Investment Significance

LIC's increased stake in Tata Power reflects the insurance corporation's investment strategy in the power sector. As one of India's largest institutional investors, LIC's shareholding movements are closely watched by market participants. The acquisition, while modest in percentage terms, represents a significant absolute investment given Tata Power's market capitalization.

The disclosure document was filed by LIC's Central Office Investment Department and copied to both NSE and BSE as per regulatory requirements. This transaction demonstrates continued institutional interest in Tata Power's equity, particularly from government-owned financial institutions.