Tata Communications issued and allotted commercial paper aggregating ₹550 crore on September 28, 2026. The securities were listed on the National Stock Exchange on September 29, 2026.

The issuance carries a discount rate of 6.20% per annum with a redemption date set for December 18, 2026. Each security has a face value of ₹5,00,000.

Issue details

The company filed this intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The short-term borrowing instrument is scheduled for maturity within approximately 82 days from the date of issue.

Tata Communications received a favorable order from the Income Tax Appellate Tribunal (ITAT), Mumbai, disposing of cross-appeals for Assessment Year 2011-12. The tribunal granted relief on key tax matters, including Section 80-IA deductions and Transfer Pricing adjustments.

The ITAT order, dated September 25, 2026, addresses long-standing litigation disclosed initially in August 2023. The tribunal ruled in favor of the company regarding its claim for deduction under section 80-IA of the Income-tax Act, 1961, specifically concerning its National Long Distance undertaking.

Scope of Tribunal Relief

The disposal of cross-appeals covers multiple disputed areas between the company and the Income-tax Department. While the tribunal granted relief on substantive claims, certain aspects remain subject to procedural verification.

Next Steps and Impact Assessment

The company stated it is currently evaluating the order to determine the consequential tax impact and any further course of action. The proceedings were disposed of via tribunal order rather than a mutual settlement, meaning no compensation or penalty was paid by either party as part of a settlement agreement.

This development marks a significant update in the company's ongoing income-tax litigations. The relief on Section 80-IA is particularly notable as it pertains to historical incentives linked to infrastructure investments. The final financial implication will depend on the Assessing Officer's recomputation of the taxable income based on the tribunal's findings.