Tata Communications to consider fundraising up to Rs 650 crore

Tata Communications Limited has announced that the company will consider fundraising in its board meeting scheduled on April 15, 2020.

The company informed that a board of meeting will be conducted on Wednesday via videoconferencing wherein, its board would approve and consider fundraising of Rs 500 crore via private placement of rated, secured, listed, redeemable and non-redeemable debentures (NCDs). Along with this, the company would also consider raising Rs 150 crore via greenshoe option.

A part of Tata Group, Tata Communications Limited is an Indian telecommunications company headquartered in Pune, which provides network services and software-defined network platforms such as Ethernet, SD-WAN, content-delivery network (CDN), internet and multiprotocol label switching (MPLS) as well as private line.

The stock market is closed today on the occasion of Dr Baba Saheb Ambedkar Jayanti. However, at the time of market closing on Monday, the stock of Tata Communications Ltd was trading at Rs 331.20, up by 15.14 per cent against its previous close of Rs 287.65. Its 52-week high is Rs 465.00 while, its 52-week low is Rs 205.70 on BSE.