Left Menu
Development News Edition

Tata Motors board approves plan to raise Rs 500 crore through NCD issue

Automobile manufacturer Tata Motors said on Monday its authorised committee of the board has approved a plan to raise Rs 500 crore through issue of securities in two tranches of Rs 250 crore each.

ANI | Mumbai (Maharashtra) | Updated: 24-02-2020 11:11 IST | Created: 24-02-2020 11:11 IST
Tata Motors board approves plan to raise Rs 500 crore through NCD issue
The redemptions will be on December 30, 2026 and January 29, 2027. Image Credit: ANI

Automobile manufacturer Tata Motors said on Monday its authorised committee of the board has approved a plan to raise Rs 500 crore through issue of securities in two tranches of Rs 250 crore each. The redemptions will be on December 30, 2026 and January 29, 2027.

Tata Motors' board on October 25, 2019 had approved and authorised the raising of additional funds up to Rs 3,500 crore through external commercial borrowings, listed, unsecured, rated, non-convertible debentures (NCDs) or any other form of borrowing or in any combination. It had also approved raising of Rs 6,500 crore from Tata Sons through preferential issue.

The fund infusion by Tata Sons, the promoter of major operating companies of the Tata Group, into Tata Motors is aimed at helping the automaker whose domestic business has been hit by a slowdown that significantly impacted sales volumes, profitability and cash flows and increased the net debt to unsustainable levels. (ANI)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION / BLOG / INTERVIEW

Maritime transport post-COVID 19: Disruptions ahead in business models, techno-investments, regulations

Cargo shipping is a crucial part of the global supply chains and is likely to become more resilient along with efforts to make supply chains resilient but cruise liners could face much more disruptive changes....

Asia-Pacific response to COVID-19 and climate emergency must build a resilient and sustainable future

... ...

Videos

Latest News

On Holy Thursday, pope hails front-line 'saints' helping virus victims

Pope Francis presided at a scaled-down Holy Thursday Mass in an empty St. Peters Basilica, praising ordinary doctors, nurses and priests who risk their lives helping coronavirus victims as the saints next door.The Mass, which commemorates J...

Sports News Roundup: Suspension of Olympic qualification gets cool reception; Swiss court upholds prosecutor's removal and more

Following is a summary of current sports news briefs.Suspension of Olympic qualification gets cool receptionThe decision by the governing body of athletics to suspend Olympic qualification until December due to the coronavirus outbreak has ...

UK records 881 coronavirus deaths

Britain on Thursday reported 881 more fatalities due to COVID-19, bringing the countrys total toll to 7,978, as Foreign Secretary Dominic Raab said the strict lockdown measures in place in the UK must continue for more time to ensure there ...

Chad's army says 52 soldiers, 1,000 Boko Haram fighters killed in operation

Chads army said on Thursday it had killed as many as 1,000 Boko Haram fighters and lost 52 of its own soldiers in a 10-day old operation that followed the jihadist groups deadliest-ever attack on national forces. Chads army launched the ope...

Give Feedback