Tata Steel Limited announced reference to its letter dated March 19, 2024, intimating that the committee of directors (COD) of the board had approved the issue of fixed rate, unsecured, redeemable, rated, listed NCDs aggregating to INR 27,000 million, on private placement basis. In this connection, the company announced that the coupon rate of the proposed NCDs was discovered at 7.79% on the basis of multiple yield allotment method through the Electronic Book Building Platform of BSE Limited on March 26, 2024. The COD has on March 27, 2024, approved the allotment of 2,70,000 - 7.79% Fixed rate, Unsecured, Redeemable, Rated, Listed, NCDs having face value INR 100,000 each, for cash, aggregating to INR 27 million, for a tenor of 3 years, to identified investors on private placement basis, on the terms and conditions as mentioned in the Placement Memorandum for the said Issue and other transaction documents.

The NCDs have been issued on the basis of multiple yield allotment method prescribed by BSE Limited and the Securities and Exchange Board of India, and the issue price of the NCDs has been determined accordingly. The NCDs are proposed to be listed on the Wholesale Debt Market Segment of BSE Limited.