Tata Motors plan to raise Rs 500 crore via debentures

Tata Motors announced on Monday that the company wishes to offer rated, listed, unsecured, redeemable, non-convertible debentures totalling to Rs 500 crore in two tranches. Taking this into consideration, the company is holding a meeting with its duly constituted committee of the board of directors on February 24, 2020.

The meeting is to be held in respect to the resolution passed by its board on October 25, 2019. On the same date, the company's board had also approved raising Rs 6,500 crore from Tata Sons via preferential issue. The fund infusion was aimed at helping the company hit by the slowdown, which significantly affected its sales volumes, profitability and cash flows.

Tata Motors Limited is an automobile company engaged mainly in the business of automobile products, consisting of all types of commercial and passenger vehicles, including financing of the vehicles sold by the company. Its segments include automotive operations, apart from other operations. The company operates in over 160 countries across the world.

On Monday, the stock closed flat at Rs 169.10. The 52-week high is recorded at Rs 239.30 and the 52-week low is Rs 106 on BSE.