Telecom major Tata Communications today said it has raised $350 million in the form of debt and there is no liquidity problem in the company.
"Tata Communications has raised $350 million in debt and bonds. The company has no liquidity problem," Tata Comm Senior Vice-President (Strategy and Communications) S Addepalli said.
The communication services provider has earmarked $400 million for the purpose of capital expenditure for FY'10, Addepalli added.
The company's cash reserve as on January 31, 2009, stood at $300 million.
Tata Communications, the $62.5-billion Tata Group subsidiary, currently has a market capitalisation of over Rs 11,700 crore.
Shares of Tata Comm were trading at Rs 410.40, up 1.18 per cent in the afternoon trade on the Bombay Stock Exchange.
