Tata Motors gets nod from board constituted committee to raise Rs 1,000 cr via NCDs

New Delhi:  Tata Motors on Tuesday stated a board constituted committee has authorised elevating up to Rs 1,000 crore via situation of non-convertible debentures on a non-public placement foundation.

A gathering of the duly authorised committee held on Tuesday authorised the supply for subscription, on a non-public placement foundation, up to 10,000 rated, listed, unsecured, redeemable, non-convertible debentures (NCDs) of face worth Rs 10,00,000 every at par aggregating up to Rs 1,000 crore, Tata Motors stated in a regulatory submitting.

These shall be issued in three tranches of Rs 500 crore, Rs 300 crore and Rs 200 crores with redemptions due on September 30, 2022, November 28, 2022 and December 29, 2022 respectively, it added.

The firm additional stated curiosity payable shall be topic to discovery after open ebook bidding on BSE platform.

Shares of Tata Motors had been buying and selling at Rs 84.95 per scrip, greater by 1.25 per cent on the BSE. 

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