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Tata Steel Limited — Bonds & AA+ (CARE) Rating

Corporate · Manufacturing

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Methodology v1.0 Download Report (PDF) Watch
Agency Rating
AA+ (CARE)
Most common current rating on senior bonds
1 of 1 rated · CARE, 28 Feb 2025
Total Debt Outstanding
₹14,165 Cr
Across 6 instruments
Active Bonds
6
First Issue
4 Oct 2016
Latest Issue
21 Feb 2025
Maturity Range
2027 - 2034
Observation
6 active bonds tracked from this issuer.
View details →
Coverage: High Data Quality: High Sources: NSE, BSE, SEBI, rating agencies

Latest events

Last 90 days · company disclosures to the exchanges and agency announcements. Not our assessment.
  • 1 Oct 2026 Interest payment notice Payment of Interest and redemption of principal amount on Non-Convertible Debentures (''NCDs'')
  • 26 Aug 2026 Record date Newspaper advertisement - Record Date for Non-Convertible Debentures
  • 25 Aug 2026 Record date The company has fixed Regulation 60(2) Record Date Interest Payment / Redemption / Dividend for the purpose of…
Issuer health card 1 item to look at
  • Current ratings CARE AA+
  • Rating direction, 12 months No rating actions on file
  • Watch / negative outlook None in 12 months
  • Issuer not cooperating No such actions in 12 months
  • Rating withdrawn, 12 months No withdrawal of this issuer's rating in 12 months
  • Newest agency rating No agency rating on file newer than 28 Feb 2025
  • Payment record No payment disclosures since 17 Jul 2026
  • Defaults on record No bond marked defaulted
  • Traded in the last 30 days 1 of 6 active bonds had an exchange trade
  • Exchange filings, 90 days 81 filings on NSE/BSE

A checklist of published facts, not a rating or a view on credit quality. Ratings are the agencies' own; payment record covers NSE disclosures since 17 Jul 2026; "late" means paid more than 3 days after the due date (next-working-day payments are allowed). Rating range covers every current rating on the issuer's active bonds, with each agency's rating date. Rating actions count only when the agency's heading names this issuer, not pools or trusts it originated; a withdrawal is flagged only when the issuer's rating itself is withdrawn, not a single facility. Rating age uses the newest rating date on file and is flagged when older than 12 months. See methodology.

Alert me about Tata Steel Limited An email when a rating agency acts on this issuer (including any cut to default grade D) or a payment is disclosed late or short. Free, no account needed.
01 Issuer Overview
Sector
Manufacturing
Issuer Type
Corporate
First Tracked Bond
4 Oct 2016
Start of this issuer's debt program timeline
  • 6 active bonds tracked from this issuer.
  • 0 of 6 tracked bonds with a stated security status are secured. (based on 6 bonds with a disclosed security status)

Operating in the Manufacturing sector, Tata Steel Limited is classified as a corporate issuer. Bond coupons here span 7.50% - 9.84%, paid annually. The maturity ladder spans 2027 - 2034.

Data sourced from NSDL, BSE, NSE, and registered credit rating agencies. Verify against the issuer's offer document before transacting.

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02 Debt Profile
Outstanding Bonds
6
Tracked by RetailBonds
Amount Tracked
₹14,165 Cr
Of bonds tracked by RetailBonds — not the issuer's total outstanding debt
Avg Coupon
8.10%
Range 7.50% - 9.84%
Avg Remaining Tenure
3.2 Yrs
Nearest maturity Mar 2027
Secured
0%
0 of 6 bonds with known status
Callable
0
Of 6 bonds
Avg Spread vs G-Sec
+126 bps
Credit premium, from 1 bond with a current market yield

Maturity Profile

Active bonds maturing, by year. Bar height relative to the tallest year (2 bonds).

0 2027: 2 bonds, ₹3,200 Cr tracked, avg coupon 7.64% 2 bonds 2027 2028: 1 bond, ₹2,150 Cr tracked, avg coupon 8.03% 1 bond 2028 2030: 1 bond, ₹3,000 Cr tracked, avg coupon 7.65% 1 bond 2030 2032: 1 bond, ₹1,500 Cr tracked, avg coupon 7.76% 1 bond 2032 2034: 1 bond, ₹4,315 Cr tracked, avg coupon 9.84% 1 bond 2034

Security Type / Instrument Mix

  • NCD 6 bonds · 100% · ₹14,165 Cr tracked

Funding Evolution

■ Issued that year — Cumulative outstanding (tracked)
2019: ₹4,315 Cr issued 2019 2022: ₹2,000 Cr issued 2022 2023: ₹2,150 Cr issued 2023 2024: ₹2,700 Cr issued 2024 2025: ₹3,000 Cr issued 2025 Cumulative: ₹4,315 Cr Cumulative: ₹6,315 Cr Cumulative: ₹8,465 Cr Cumulative: ₹11,165 Cr Cumulative: ₹14,165 Cr

Based on 6 of 6 active bonds with a known issue date and issue size.

03 Credit Profile
  • AA 6 bonds · 100%
AgencyRatingOutlookBonds
CARE AA+ — 1
India Ratings AA+ NSDL record — 3
CARE AA NSDL record — 1
CARE AA+ NSDL record — 1

Recent Rating Actions

No rating action history available.

04 Outstanding Bonds View all bonds →
ISIN Bond Name Coupon Rating Maturity YTM Last Trade Details
INE081A08348 Tata Steel 7.79% Mar 2027 NCD 7.79% AA+ (CARE, NSDL record 2024) 2027-03-27 — —
INE081A08314 Tata Steel 7.50% Sep 2027 NCD 7.50% AA+ (India Ratings, NSDL record 2022) 2027-09-20 — —
INE081A08330 Tata Steel 8.03% Feb 2028 NCD 8.03% AA+ (India Ratings, NSDL record 2023) 2028-02-25 — 2026-09-17
INE081A08355 Tata Steel 7.65% Feb 2030 NCD 7.65% AA+ (CARE) 2030-02-21 8.35% 2026-10-12
INE081A08322 Tata Steel 7.76% Sep 2032 NCD 7.76% AA+ (India Ratings, NSDL record 2022) 2032-09-20 — —
INE081A08223 Tata Steel 9.84% Mar 2034 NCD 9.84% AA (CARE, NSDL record 2019) 2034-03-01 — 2026-09-07
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YTM is the market yield from the latest BSE/NSE trade. It shows “—” when that trade is over 30 days old, the bond is under 30 days from maturity, it is a market-linked debenture, or the price failed our checks (hover the dash for the reason). A coupon is never shown as a yield.

05 Market Activity

Last 30 days, across all outstanding bonds from this issuer.

BSE Traded Value (Last 30 Days)
—
Number of Trades (Last 30 Days)
1
Avg. Yield (Last 30 Days)
8.35%
06 Regulatory Filings
BSE Corporate Announcements
The Board meeting to be held on October 27, 2026, has been revised to November 7, 2026 24 Oct 2026
Notice of Board Meeting of Tata Steel Limited to consider and take on record the audited Standalone and unaudited Consolidated financial results of the Company for the quarter and half .... 16 Oct 2026
07 Methodology & Data Coverage
DatasetCountFreshness
Credit Ratings (current) 6 2025-02-28
Rating Actions History 0 —
Secondary-Market Trades 7 2026-10-12
Reg52(4) Payment Disclosures 0 —

Methodology version 1.0. See full methodology for sources and limitations.

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Frequently Asked Questions
How many active bonds does Tata Steel Limited have?

Tata Steel Limited currently has 6 active bonds with coupons of 7.50% - 9.84%, maturities spanning 2027 - 2034.

What is Tata Steel Limited's credit rating?

The most common current rating on Tata Steel Limited's senior bonds is AA+ (CARE). Ratings on file come from CARE.

Are Tata Steel Limited's bonds secured?

Of the 6 bonds with a disclosed security status, 0 are secured (0%) and 6 are unsecured.

When do Tata Steel Limited's bonds mature?

Tata Steel Limited's active bonds mature between 2027 - 2034; the nearest matures in Mar 2027; the average tenure is 3.2 Yrs.

What is the average coupon on Tata Steel Limited's bonds?

The average coupon across Tata Steel Limited's 6 active bonds is 8.10%.

Disclaimer: This page aggregates publicly available data about Tata Steel Limited for informational purposes only. Ratings shown are the opinion of the issuing rating agency and are not buy/sell recommendations. RetailBonds.in does not issue its own ratings or investment advice. Verify all data against the issuer’s offer document before transacting.