TATA Capital NCD Allotment

Tata Capital NCD - Basis of Allotment

Tata Capital NCD - Basis of Allotment - Get more Business Documents

Tata Capital Ltd NCD issue oversubscribed 6 times

Tata Group firm Tata Capital said today that its public issue was oversubscribed six times, receiving bids worth more than Rs 3,000 crore on robust response from all categories of investors.

The company would retain subscriptions worth Rs 1,500 crore from the issue of secured non-convertible debentures (NCDs). The instrument would be listed on the National Stock Exchange (NSE), Tata Capital said in a statement.

"The issue has gained significant acceptance and this re-instates investor confidence in Tata Capital. Based on the good response we feel such bonds will become an instrument of choice for investors and other corporates leading to the development of a strong corporate bond market, " Tata Capital managing director Praveen P Kadle said.

The issue proceeds would be used for various activities such as lending and investments, capital expenditure and repayment existing loans, Kadle added.

The Rs 500 crore issue, which had a greenshoe option of Rs 1,000 crore, was open for subscription between February 2 and 24.

ICICI Securities, Citigroup Global Markets India and DSP Merrill Lynch Ltd were lead managers to the issue, while Tata Capital Markets were advisors

Fw: URGENT | Tata Capital NCD issue, Full allotment to all retail investors applying upto Rs 100,000,

---------- Forwarded message ----------

Dear All,

 

There are many newspaper reports that the issue may be oversubscribed and that retail investors may not get any allotment due to the first come first serve basis of allotment.

 

However the basis of allocation for this issue, to be done in consultation with NSE, and as has been mentioned in the prospectus is as follows:

 

• Full allotment to all retail investors applying upto Rs 100,000, on a first come first served basis.
• Thereafter allocation to all investors, other than institutional investors, on a first come first served basis
• Thereafter allocation to all institutional investors, on a first come first served basis   

 

Hence please pass the message within the system that retail applicants (less than Rs 1 lac) may still apply for the offering and they would be considered for allotment in preference to other categories.

 

Regards

 

Niranjan

Tata Capital

Disclaimer & Privilege Notice: This e-Mail may contain proprietary, privileged and confidential information and is sent for the intended recipient(s) only. If, by an addressing or transmission error, this mail has been misdirected to you, you are requested to notify us immediately by return email message and delete this mail and its attachments. You are also hereby notified that any use, any form of reproduction, dissemination, copying, disclosure, modification, distribution and/or publication of this e-mail message, contents or its attachment(s) other than by its intended recipient(s) is strictly prohibited. Any opinions expressed in this email are those of the individual and may not necessarily represent those of Tata Capital Ltd. Before opening attachment(s), please scan for viruses.

--
Thanks & Regards

Aditya Kachru
www.investorspleaselisten.blogspot.com

TATA CAPITAL LIMITED NCD

TATA CAPITAL LIMITED
50,000 lakhs with an option to retain over-subscription of Rs. 1,00,000
Issue of secured ‘Non-convertible Debentures’

Issuer: TATA Capital Ltd.
Earn 12% PA Interest.

Minimum Application Rs.10,000
On Maturity After 5years Rs.17,623

Rating “LAA+” by ICRA Limited; CARE AA+
Issue Schedule Issue Opening Date : 2nd Feb 2009
Issue Closing Date : 24th Feb 2009