Tata Motors to raise Rs 500 cr through NCDs

Mumbai: Tata Motors launch “Tigor” in Mumbai on March 29, 2017. (Photo: IANS)

New Delhi, Nov 14 (IANS) Tata Motors on Thursday said that it will raise Rs 500 crore through private placement of non-convertible debentures (NCD).

In a regulatory filing, the company said that the NCDs would be issued in three tranches.

“A meeting of the duly authorised committee was held today (Wednesday) approving offering for subscription, on a private placement basis, upto 5,000 rated, listed, unsecured, redeemable, non-convertible debentures E28-A series of face value Rs 10 00,000/- each, at par, aggregating up to Rs 500 crores comprising of three tranches, tranche-I, tranche-II and tranche-III of Rs 200 crores, Rs 200 crores and Rs 100 crores respectively,” the filing said.

Tata Motors also plans to raise $300 million through unsecured offshore debt financing, th3e company said in a filing to the stock exchanges late Wednesday.

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