23 May 2017 | 12:53 PM

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COMPANYNEWS
Tata Motors to raise up to Rs 500 crore through NCDs
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Published on 03-20-2017
Tata Motors said that it has decided to raise funds through rated listed unsecured non-convertible debentures (NCDs) aggregating up to Rs 500 crore.


“The Company is desirous of offering the seventh series of its Rated Listed Unsecured Redeemable NCDs aggregating to Rs.500 crores and in this regard is holding a meeting of its duly constituted Committee of the Board on March 24 2017” it said in a filing to the Bombay Stock Exchange.


The above issuance is pursuant to the approval of the Shareholders passed vide Special Resolution at the 71th Annual General Meeting of the Company held on August 09 2016 and the Board of Directors' resolution passed at its meeting held on February 14 2017 it said.


Tata Motors is India's largest automobile company. Through subsidiaries and associate companies Tata Motors has operations in the UK South Korea Thailand South Africa and Indonesia. Among them is Jaguar Land Rover the business comprising the two iconic British brands.


Meanwhile shares of the company closed trading at Rs 476.05 apiece down 0.06 per cent from the previous close on BSE.