Tata Motors gets nod from board constituted committee to raise Rs 1,000 cr via NCDs

New Delhi:  Tata Motors on Tuesday said a board constituted committee has approved raising up to Rs 1,000 crore via issue of non-convertible debentures on a private placement basis.

A meeting of the duly authorised committee held on Tuesday approved the offer for subscription, on a private placement basis, up to 10,000 rated, listed, unsecured, redeemable, non-convertible debentures (NCDs) of face value Rs 10,00,000 each at par aggregating up to Rs 1,000 crore, Tata Motors said in a regulatory filing.

These will be issued in three tranches of Rs 500 crore, Rs 300 crore and Rs 200 crores with redemptions due on September 30, 2022, November 28, 2022 and December 29, 2022 respectively, it added.

The company further said interest payable will be subject to discovery after open book bidding on BSE platform.

Shares of Tata Motors were trading at Rs 84.95 per scrip, higher by 1.25 per cent on the BSE. 


Speak Your Mind

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get in Touch

350FansLike
100FollowersFollow
281FollowersFollow
150FollowersFollow

Recommend for You

Oh hi there 👋
It’s nice to meet you.

Subscribe and receive our weekly newsletter packed with awesome articles that really matters to you!

We don’t spam! Read our privacy policy for more info.

You might also like

Coronavirus Has New Yorkers Fleeing The City And Hunting...

Bedford, New York Ginnel Real Estate ...

A New Study Suggests You May Want To Rethink...

Getty Education at the graduate level is becoming...

Cambridge University plans to stop fossil fuel investments by...

The Bridge of Sighs at St. John's College, University of Cambridge.Andrew Holt | The...

World shares sink after China data misses forecasts

LONDON/TOKYO Global shares dipped on Friday after lacklustre Chinese economic data and worries...