Tata Motors plans to raise Rs 1,000 crore via NCD, Auto News, ET Auto

The NCD issuance is pursuant to the approval of the Board of Directors’ resolution passed at its meeting held on March 27, 2020, said Tata Motors.
The NCD issuance is pursuant to the acceptance of the Board of Directors’ resolution handed at its conference held on March 27, 2020, said Tata Motors.

New Delhi: Household-developed vehicle giant Tata Motors is scheduling to elevate Rs 1,000 crore Non-Convertible Debentures (NCDs), the firm informed the stock exchanges on April 28.

Tata Motors said in an intimation to stock trade that a conference of the board of administrators is scheduled to be held on April 5th to think about boosting of resources by way of issuance of detailed, secured/unsecured, redeemable non-convertible debentures on non-public placement foundation on 3 tranches/series.

“We would like to inform you that the Enterprise is desirous of supplying Rated, Shown, Unsecured, Redeemable, Non-Convertible Debentures aggregating Rs 1000 crores in 3 tranches and in this regard is keeping a conference of its duly constituted Committee of the Board on Could five, 2020. The higher than issuance is pursuant to the acceptance of the Board of Directors’ resolution handed at its conference held on March 27, 2020,” the firm said in a regulatory filing.

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