Tata Communications announced its plans to raise Rs 1,750 crore through the issuance of non-convertible debentures (NCDs). The deemed date of allotment for the NCDs is August 29, 2023, and they will mature after three years from the allotment date. The issuance will be done on a private placement basis to eligible investors. Tata Communications will be issuing a total of 1,75,000 NCDs with a face value of Rs 1,00,000 each, aggregating to ₹1,750 crore. The NCDs are proposed to be listed on the wholesale debt market segment of the National Stock Exchange of India Limited. The issue will be on a fixed rate coupon basis bidding at the Electronic Book Provider (EBP) platform of NSE, and the bidding can be on a uniform yield or multiple yield basis. The schedule of interest payment will be annual.
In addition to this announcement, Tata Communications also launched its global, cloud-based 5G roaming lab. This new lab will enable mobile operators to trial various 5G standalone network use cases before introducing the service to their subscribers. The lab aims to provide the highest quality of experience to mobile phone users while roaming by closely monitoring traffic movement and network usage. It will offer an objective performance assessment across networks during the exchange process while a user is roaming. The lab will also conduct onboarding and internet trials on the high-speed, high-reliable, and low-latency 5G standalone network.
This development comes as Tata Communications continues to expand its presence in the telecommunications sector. With the planned issuance of NCDs, the company aims to raise funds for future growth and investment opportunities. The listing on the NSE will provide the company with increased visibility and access to a wider investor base. The launch of the 5G roaming lab demonstrates Tata Communications’ commitment to delivering innovative solutions and enhancing the mobile roaming experience for its customers.
In conclusion, Tata Communications’ announcement of raising funds through NCDs and the launch of its 5G roaming lab showcase the company’s efforts to drive growth and innovation in the telecommunications industry. These initiatives align with Tata Communications’ strategic goals and highlight its position as a leading player in the sector.
