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Tata Motors has been planning to raise Rs 3,000 crore in the next 12 months via non-convertible debentures (NCDs) or rupee denominated non-convertible foreign currency bonds on a private placement basis.
The company will be seeking its shareholders approval for raising the sum at its upcoming AGM to be held on August 9.
Tata Motors has said in a letter to its shareholders “In continuation of its efforts to strengthen its capital structure, the company intends to augment the resources through a mix of internal accruals and long term borrowings.”
