Tata Steel Ltd’s board on Tuesday approved raising Rs 2,700 crore through the issue of unsecured non-convertible debentures maturing in three years on a private placement basis. The board on Tuesday approved the issue of 2.70 lakh NCDs with a face value of Rs 1 lakh each, according to an exchange filing. The coupon will be paid annually, with the principal amount to be redeemed through bullet repayment by the end of three years, the filing said.