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Tata Motors to raise up to Rs 500 cr via NCDs

Mumbai: Automobile major Tata Motors on Friday said it would raise up to Rs 500 crore by issuing non-convertible debentures.

“…we hereby inform that a meeting of the duly authorised committee was held today (Friday)….approving offering of subscription, on a private placement basis, up to 5,000 rated, listed, unsecured, 7.84 per cent coupon, redeemable, non convertible debentures of face value Rs 10,00,000 each, at, par, aggregating up to Rs 500 crore,” it said in a regulatory filing.

The company’s scrip closed at Rs 470.50, down 0.28 percent from the previous day closing on BSE.

IANS