Authorised Committee of Tata Motors approves issuance of NCDs to raise Rs.1000 Cr

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Biznextindia : The authorized committee of Tata Motors on Tuesday approved issuance of Non-Convertible Debentures worth Rs.1000 Crore.  On April 29, the company had announced raising of Rs.1000 crore by issuing NCDs to meet its liquidity requirement during this lockdown period.

The Shares of Tata Motors traded 1.55 per cent up in Tuesday ‘s trade at 10:33AM (IST).

“A meeting of the duly authorized Committee was held today from 9:00 a.m. to 9:15 a.m. approving offering for subscription, on a private placement basis, upto 10,000 Rated, Listed, Unsecured, Redeemable, Non-Convertible Debentures (“NCDs”) E29-A Series of face value Rs.10,00,000/- each, at par, aggregating upto Rs.1000 crores comprising three tranches, of Rs.500 crores, Rs.300 crores and Rs.200 crores. (Tranche I, Tranche II and Tranche III)” the company said in a regulatory filing.

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