Tata Global Beverages raises Rs 325 cr in debenture issue

NEW DELHI: Tata Global Beverages, the partner of Starbucks in India, today said it raised Rs 325 crore in a private placement of debentures.

The company issued 3 per cent secured redeemable non-convertible debentures (NCD) by way of private placement, Tata Global Beverages Ltd (TGBL) said in a filing to the BSE.

The NCDs will be listed on the wholesale debt market segment of the National Stock Exchange of India, it added.

The NCDs are redeemable after three years with a redemption premium, the company said.

Apart from the venture with Starbucks Coffee Company, TGBL has a portfolio of beverages with brands such as Tetley, Tata Tea, Eight O'Clock Coffee, Tata Water Plus and Himalayan water.

Shares of TGBL closed at Rs 163.80 on the BSE, down 0.82 per cent.