A meeting of the board of directors is scheduled to be held on January 18 to consider and approve buyback of unsecured NCDs of two tranches, the company said in a BSE filing.

The first tranche of unsecured NCDs totaling Rs 200 crore is due to mature on November 30, 2018, while the second tranche of Rs 250 crore is due to mature on May 28, 2019, it added.

The company said the step is "part of its debt restructuring programme to ensure balanced maturity profile and/or better terms that would lower cost of debt".

After successfully completing a rights issue raising Rs 7,490 crore, the company's net debt-to-equity as on March 31, 2015 on a proforma basis stood at 0.57.

As per its annual report for 2014-15, as on March 31, 2015, the company's borrowings, including short-term debt, were at Rs 73,610.39 crore.

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