Tata Power has successfully completed the allotment of non-convertible debentures (NCDs) worth ₹2,000 crores through private placement on December 19, 2025. The Committee of Directors approved the allotment following coupon rate discovery through the Electronic Book Building Platform of BSE Limited on December 18, 2025.

Allotment Details and Coupon Rates

The company allotted 2,00,000 NCDs with a face value of ₹1,00,000 each, structured in two series with different coupon rates discovered through multiple yield allotment method. The NCDs are unsecured, senior, redeemable, rated, listed, taxable, non-cumulative non-convertible debentures offered to identified investors on private placement basis.

Issue Structure and Terms

The total issue size aggregates to ₹2,000 crores, with equal allocation between both series. The NCDs carry fixed rates and will be redeemed through bullet repayment at maturity. The allotment was made on the terms and conditions mentioned in the Placement Memorandum and other transaction documents.

Listing and Credit Quality

The NCDs are proposed to be listed on the Wholesale Debt Market Segment of BSE Limited. 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 for investors.

Regulatory Compliance

This allotment continues the company's previous intimation dated December 12, 2025, regarding the proposed issuance. The disclosure complies with Regulation 30 and 51 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. The issuance follows the multiple yield allotment method prescribed by BSE Limited and SEBI, with issue prices determined accordingly.

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.