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Tata Motors gets approval to raise ₹1,000 crore via NCDs

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Tata Motors gets approval to raise Funds

Tata Motors gets approval to raise ₹1,000 crore via NCDs

Tata Motors on Tuesday said a board-constituted committee has approved an issue of non-convertible debentures (NCDs), on a private placement basis, to raise up to ₹1,000 crore.

 

The company said in a regulatory filing this would involve up to 10,000 rated, listed, unsecured, redeemable, non-convertible debentures of face value ₹10,00,000 each, at par, aggregating up to ₹1,000 crore across three tranches — of ₹500 crore, ₹300 crore and ₹200 crore.

 

The tranches of ₹500 crore, ₹300 crore and ₹200 crore will be due for redemption on September 30, 2022, November 28, 2022 and December 29, 2022, respectively.

 

The interest payable will be subject to discovery after open book bidding on the BSE platform, said Tata Motors.

 


5/5/2020 1:02:00 PM kids programming
Tata Motors gets approval to raise Funds
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