TPC Bonds are issued by Tata Power Company, India's largest integrated power company. Tata Power Company is in the business of generation and supply of electricity and serves over 1 crore consumers in India. Tata Sons, the parent company of TPC and one of the largest companies of India, owns 45% of Tata Power Company. Hence, TPC bonds have a long-term credit rating of AA and a short-term credit rating of A1+ from CRISIL Ltd.