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Tata Motors To Raise Rs.1000 crores via NCDs
After a resolution was passed, Tata Motors is now considering raising funds via issue of NCDs.
On Friday, the automobile company said it shall mull upon raising upto Rs. 1000 crores via issue of non-convertible debentures next week. In a regulatory filing the company further said, the company desires to offer the ninth series of its unsecured, listed as well as rated and redeemable NCDs that aggregate to Rs. 1,000 crore in one or more tranches.
Further to work on the proposal the company is planning to conduct a meeting of its committee on July 26. The issue is being considered after the resolution was passed on the 14th of February 2017. The company does not informed clearly specified where it plans to use the raised capital from the NCD issue.
Tata Motors valued at $42 billion is a leading automobile manufacturing company of cars, defence vehicles, trucks, buses and utility vehicles.
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