Tata Power raises Rs 2,000 crore via NCDs, launches energy research lab

Tata Power Company Limited has reported two developments to the stock exchanges on 19 December 2025. The company confirmed the allotment of Rs 2,000 crore through non-convertible debentures and announced the launch of a research and innovation lab in collaboration with global academic institutions.

In a regulatory filing, Tata Power said it has allotted Unsecured, Senior, Redeemable, Rated, Listed, Taxable, Non-cumulative Non-Convertible Debentures NCDs aggregating to Rs 2,000 crore on a private placement basis. The issuance follows an earlier disclosure dated 12 December 2025.

The coupon rates were discovered through an Electronic Book Building process conducted on the BSE Limited platform on 18 December 2025. The Committee of Directors approved the allotment on 19 December 2025 using the multiple yield allotment method prescribed by BSE Limited and the SEBI.

The issuance includes two series. Series I comprises 100,000 NCDs with a fixed coupon of 7.05 per cent, a tenor of three years and a face value of Rs 100,000 each. Series II comprises 100,000 NCDs with a fixed coupon of 7.25 per cent, a tenor of five years and a face value of Rs 100,000 each. The NCDs are proposed to be listed on the Wholesale Debt Market Segment of BSE Limited.

Separately, Tata Power announced the launch of the Energy Insights and Innovation Lab EIIL at its Mumbai headquarters. The initiative is a collaboration with the London School of Economics and Political Science and the International Growth Centre.

The lab was inaugurated on 19 December 2025 by Dr Praveer Sinha, Chief Executive Officer and Managing Director of Tata Power, Professor Robin Burgess, Professor of Economics and Director of IGC at LSE, and Dr Jonathan Leape, Executive Director of IGC, in the presence of HM Harjinder Kang, Trade Commissioner for South Asia and British Deputy High Commissioner for Western India. A memorandum of understanding was signed between Tata Power, LSE and IGC to formalise the partnership.

According to the company, the EIIL will focus on research to support India’s clean energy transition, with emphasis on improving the quality, reliability and affordability of electricity supply. The lab will use behavioural science, data analytics and energy systems modelling, drawing on smart meter and Internet of Things data to run applied pilots. Key areas include demand side management, grid resilience and scalable solutions related to tariff design, consumer flexibility and distributed renewable integration.

Tata Power said the lab will have a dedicated analyst team based at its Mumbai office, working with researchers from LSE and IGC. The initiative is intended to link academic research with operational data and field level implementation.

Image Source: Tata Power