New Delhi: House-grown automobile giant Tata Motors is preparing to raise Rs 1,000 crore Non-Convertible Debentures (NCDs), the company informed the inventory exchanges on April 28.
Tata Motors said in an intimation to inventory exchange that a assembly of the board of administrators is scheduled to be held on April 5th to contemplate boosting of funds by way of issuance of stated, secured/unsecured, redeemable non-convertible debentures on personal placement basis on a few tranches/sequence.
“We would like to advise you that the Enterprise is desirous of providing Rated, Detailed, Unsecured, Redeemable, Non-Convertible Debentures aggregating Rs 1000 crores in a few tranches and in this regard is holding a assembly of its duly constituted Committee of the Board on May five, 2020. The above issuance is pursuant to the acceptance of the Board of Directors’ resolution passed at its assembly held on March 27, 2020,” the company said in a regulatory filing.
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