Tata Motors to lift as much as Rs 500 crore through NCDs

Tata Motors on Tuesday mentioned its board has permitted a proposal to lift as much as Rs 500 crore via the problem of securities on a personal placement foundation.
A gathering of the duly authorised committee has permitted for subscription, on a personal placement foundation, as much as 5,000 rated, listed, unsecured, redeemable, non-convertible debentures (NCDs) E30-B Series of face worth Rs 10,00,000 every aggregating as much as Rs 500 crore, the auto main mentioned in a regulatory submitting.
The Mumbai-based firm, nonetheless, didn’t share particulars as to the way it plans to make use of the capital.
Tata Motors is a USD 35 billion organisation. It is a number one producer of automobiles, utility automobiles, pick-ups, vans and buses.
Part of the USD 113 billion Tata group, the auto main has operations in India, the UK, South Korea, Thailand, South Africa, and Indonesia via a robust international community of 103 subsidiaries, ten affiliate corporations, three joint ventures and two joint operations as on March 31, 2020.