Tata Motors plans to raise Rs 300 crore through NCDs to meets its expansion plans
Advertisement
Advertisement
The fund-raising is a part of the company's plan to mop up Rs 4,400 crore through issuance of NCDs in one or more tranches on a private placement basis.
"TML is desirous of issuing the first series of its rated, listed, unsecured, redeemable, NCDs aggregating up to Rs 300 crore, and in this regard is holding a meeting of its duly constituted committee of Senior Executives and Directors on April 27," Tata Motors said in a BSE filing.
In May last year, Tata Motors had proposed to raise Rs 4,400 crore from NCDs to meet its expansion plan.
"It is proposed to issue NCDs on a private placement basis aggregating up to Rs 4,400 crore, in one or more series/tranches during the 12 months with an intention to substitute the short term liabilities/borrowings and for financing, part of the ongoing capital expenditure during the next 12 months as also for general corporate purposes," Tata Motors had said in its annual report.
Advertisement
In continuation of its efforts to strengthen the capital structure, the company intends to augment the long-term resources by substituting part of the short-term liabilities with medium to long term resources, it had said.
The company intends to raise NCDs for a tenure ranging between 2 to 10 years.
(Image credits: indiatimes)
Advertisement
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema
- 'Vote and have free butter dosa': Bengaluru eateries do their bit to increase voter turnout
- Reliance gets thumbs-up from S&P, Fitch as strong earnings keep leverage in check
- Realme C65 5G with 5,000mAh battery, 120Hz display launched starting at ₹10,499
- 8 Fun things to do in Kasol
- SC rejects pleas seeking cross-verification of votes cast using EVMs with VVPAT
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market