World's sixth largest steel maker Tata Steel has informed that it has raised Rs 2,000 crore, including Green Shoe Option, through a private placement of Redeemable Non Convertible Rupee Debentures (NCDs). NCDs were issued as a part of its long term financing plan.

The NCDs were assigned a rating of AAA(ind) by Fitch Ratings India Pvt. Ltd for the aggregate amount of Rs 2,000 crore. Each debenture carries a face value of Rs 10 lakh.

The issue opened with an initial size of Rs 750 crore on May 5 and closed on May 6. The deemed date of allotment for the NCDs is May 7.

At 1:05 pm, Tata Steel was quoting at Rs 837, up Rs 12, or 1%. It has touched an intraday high of Rs 837 and an intraday low of Rs 811.