Tata Motors committee approves raising Rs 500 crore via NCDs

Tata Motors said that its board approved committee has given an approval for raising Rs 500 crore through the issuance of Non-Convertible Debentures (NCDs) on private placement basis.

In a regulatory filing, the company on February 26, 2020 said that the committee has approved a total of Rs 500 crore in two tranches of Rs 250 crore each, through private placement basis. The report further added that the total amount will include allotment of 5,000 rated, listed, unsecured, redeemable, NCDs, E28-B series of face value of Rs 10 lakh each.

Not only this, it has been proposed that NCDs would be listed on BSE in Wholesale Debt Market (WDM) segment as well as on National Stock Exchange (NSE).

Tata Motors Limited, a part of Tata Group, is an Indian multinational automotive manufacturing company.

At 9.45 am on Thursday, the stock of Tata Motors Ltd is trading at Rs 142.95, down by 1.07 per cent against its previous close of Rs 144.50. Its 52-week high is Rs 239.20 and its 52-week low is Rs 106.00 on BSE.