Tata Motors has received an approval to raise Rs 500 crore through issuance of Non-Convertible Debentures (NCDs) on private placement basis. The company’s Authorized Committee in its meeting held on June 21, 2017 has approved the issuance of up to 5,000 Rated, Listed, Unsecured, 7.50% Coupon, Redeemable, NCDs of face value Rs 10 lakh each, at par, aggregating up to Rs 500 crore. The rated, unsecured redeemable NCD issue is for a tenure of 1826 days from the date of allotment and will mature on June 22, 2022. The security will be listed on both BSE and NSE.
Tata Motors is India’s largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.