Tag: Motors

Tata Motors plans to garner Rs 400 cr via NCDs

Tata Motors plans to garner Rs 400 cr via NCDs

26/07/2016 11:13

Tata Motors plans to raise Rs 400 crore through issuance of non-convertible debentures (NCDs) and a committee of the board is due to meet on Thursday in this regard.

“The company is desirous of offering the fourth series of its rated, listed, unsecured, redeemable, NCDs aggregating to Rs 400 crore and in this regard is holding a meeting of its duly constituted committee of the board on July 28, 2016,” Tata Motors Ltd said in a regulatory filing.

The above issuance is pursuant to the shareholders nod at its 70th AGM held on August 13, 2015 and the board of directors’ resolution passed at its meeting held on March 30, 2016, it added.

Earlier this month, the auto major had announced to raise Rs 400 crore by offering the third series of its rated, listed, unsecured, redeemable NCDs.

Meanwhile, shares of the company were trading at Rs 510 apiece, up 0.22 per cent from the previous close at 11:17 hours on BSE.

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