Tata Capital Financial Services to raise Rs 70 billion through NCDs

31 May 2023 CW Team

Tata Capital Financial Services Ltd (TCFSL) has announced its plans to raise up to Rs 70 billion through non-convertible bonds (NCDs) to support its growth initiatives. While TCFSL focuses on retail, SME, and corporate funding, efforts are underway for its merger with parent company Tata Capital Ltd (TCL) and Tata Cleantech Capital in the current financial year. TCFSL recorded a significant 32.03% year-on-year growth in assets, reaching Rs 785 billion by the end of March 2023. With a capital adequacy ratio of 17.3% and a tier-1 level of 13%, TCFSL remains well-positioned for expansion. The parent company, TCL, has already infused Rs 11.50 billion in equity shares into TCFSL.

According to debt market sources, the funds raised through NCDs are likely to be issued in multiple tranches. Additionally, TCFSL has scheduled the reissuance of bonds with a three-year maturity for the upcoming week. The base issue size is Rs 2 billion, with a green shoe option of Rs 8 billion.

CRISIL Ratings has assigned its highest rating of "AAA/Stable" to the proposed NCDs worth Rs 70 billion. The rating assessment considers the consolidated performance of Tata Capital and its subsidiaries, including TCFSL, Tata Capital Housing Finance, Tata Cleantech Capital Limited, Tata Securities, and Tata Capital, Singapore. CRISIL notes that the merger aligns with Tata Group's strategic plans to comply with the revised regulatory framework for TCFSL and improve operational efficiency and management effectiveness.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..