Description

BSE announces listing of two series of Commercial Paper issued by TATA STEEL LIMITED on private placement basis with total value of Rs. 2,400 crores.

Summary

BSE has listed two series of Commercial Paper issued by TATA STEEL LIMITED on private placement basis, effective October 17, 2025. The first series comprises 33,000 units of Rs. 5 lakh each (total Rs. 1,650 crores) maturing on November 28, 2025. The second series comprises 15,000 units of Rs. 5 lakh each (total Rs. 750 crores) maturing on December 16, 2025. Both series carry ICRA A1+ and IND A1+ credit ratings and are issued at a discount to face value.

Key Points

  • Two Commercial Paper series listed on BSE Debt segment effective October 17, 2025
  • Series 1: 33,000 units, Face Value Rs. 5,00,000 each, Issue Price Rs. 4,96,519.50
  • Series 2: 15,000 units, Face Value Rs. 5,00,000 each, Issue Price Rs. 4,95,077.00
  • Credit Rating: ICRA A1+ and IND A1+ for both series
  • Trading only in dematerialized form
  • Standard denomination: Rs. 5 lakhs and multiples thereof
  • Tick size: 1 paise
  • Issuing and Paying Agent: HDFC Bank Limited

Regulatory Changes

No regulatory changes announced in this circular.

Compliance Requirements

  • Trading members must trade these securities only in dematerialized form under specified ISIN numbers
  • Trading must be conducted in standard denomination of Rs. 5 lakhs and multiples thereof
  • Members must use tick size of 1 paise for these securities

Important Dates

  • Notice Date: October 17, 2025
  • Allotment Date: October 16, 2025 (both series)
  • Listing Date: October 17, 2025
  • Series 1 Redemption: November 28, 2025
  • Series 2 Redemption: December 16, 2025

Impact Assessment

This is a routine debt instrument listing with minimal market impact. The listing provides TATA STEEL LIMITED with short-term funding through commercial paper issuance. The instruments are rated A1+ by both ICRA and India Ratings, indicating highest credit quality and safety. Trading will be limited to debt segment participants and will not affect equity market operations. The issuance strengthens the company’s working capital position for 41-60 day tenures.

Impact Justification

Routine commercial paper listing announcement for debt instruments with no impact on equity trading or market operations