Tata Communications Plans Fund Raising Through NCDs
Tata Communications has unveiled its plan to raise a substantial sum of up to ₹1,750 crore through the issuance of Non-Convertible Debentures (NCDs). The strategic move aims to fortify the company’s financial foundation and facilitate growth opportunities.
In this endeavor, Tata Communications will release a total of 1,75,000 NCDs, each possessing a face value of ₹1,00,000. The collective value of these NCDs will amount to ₹1,750 crore. The issuance will be conducted through a private placement route, catering to eligible investors who align with the company’s vision and objectives.
The date of allotment for these NCDs has been set as August 29, 2023. These instruments will mature three years from the date of allotment, offering a well-defined investment timeline.
An official filing from Tata Communications indicates that the proposed NCDs will eventually be listed on the Wholesale Debt Market Segment of the esteemed National Stock Exchange of India Limited (NSE). This listing will enhance transparency and accessibility for investors, ensuring a robust trading platform.
In a parallel announcement, Tata Communications introduced a groundbreaking initiative – the global, cloud-based 5G Roaming Laboratory (Lab). This pioneering Lab serves as a testing ground for Mobile Network Operators (MNOs) to explore and validate 5G standalone network use cases prior to their official rollout.
The cloud-based 5G Roaming Lab designed by Tata Communications is meticulously engineered to simulate the international mobile roaming experience. By closely monitoring network usage and traffic patterns, the Lab aims to deliver an unparalleled quality of service for users engaged in roaming activities.
The Lab’s exhaustive tests provide an unbiased evaluation of performance across networks during the exchange process while a user is on the move. This encompasses a wide array of scenarios, including onboarding procedures and internet trials, all carried out on the high-speed, ultra-reliable, and low-latency 5G standalone network.
Mysore Madhusudhan, the Executive Vice President overseeing Collaboration and Connected Solutions at Tata Communications, highlighted the significance of the initiative. He noted, “The ability to conduct tests across diverse geographical locations enhances the flexibility accessible to MNOs in their pursuit of delivering superior and agile services. Empowered by swift and uninterrupted connectivity, this generation of network technology is poised to advance at an unprecedented pace.”
Remarkably, Tata Communications witnessed a surge in its share price, reaching a pinnacle within the past 52 weeks. The stock surged by an impressive 2.81%, attaining a 52-week high of ₹1,831.95 per share on the Bombay Stock Exchange (BSE).
About Tata Communications:
Tata Communications Limited stands as an Indian telecommunications enterprise. In the past, it functioned as a government-owned telecommunications service provider under the ownership of the Department of Telecommunications, the Ministry of Communications, and the Government of India.
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