Tata Capital Financial Services on Tuesday said the Board of company has approved proposal of issuing of Unsecured, Redeemable, Non-Convertible Bonds in the nature of debentures qualifying as Subordinated Debt (Tier II) upto an amount not exceeding Rs. 500 crore, on a private placement basis.
"Revalidation of Resolution passed for issuance of Secured, Redeemable, Non - Convertible Debentures up to Rs. 6,000 crore on a private placement basis as approved at the Board Meeting held on March 25, 2013, in pursuance of the Guidelines issued by the Reserve Bank of India on "Raising Money through Private Placement by NBFCs - Debentures etc." which, inter-alia, stipulate that the offer document for private placement of Non-Convertible Debentures should be issued within a maximum period of 6 months from the date of the Board Resolution authorizing the issue," Tata Capital Financial Services said in a filing to Bombay Stock Exchange.