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Tata Motors (TML) is planning to raise Rs 300 crore through issuing non-convertible debentures (NCDs) for meeting its expansion plan.
The company plans to mop up Rs 4,400 crore by issuing NCDs in one or more tranches on a private placement basis and the fund raising is a part of it.
Tata Motors has said in a BSE filing that “TML is desirous of issuing the first series of its rated, listed, unsecured, redeemable, NCDs aggregating up to Rs 300 crore, and in this regard is holding a meeting of its duly constituted committee of Senior Executives and Directors on April 27.”
Tata Motors in May last year proposed to raise Rs 4,400 crore from NCDs for meeting its expansion plan.
