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Tata Motors to raise Rs 300 crore via NCDs

Tata Motors (TML), India’s biggest automaker, will issue non-convertible debentures (NCDs) to raise Rs 300 crore. A meeting of senior executives and directors will be held on Wednesday in this connection.

The fund raising is part of the company’s efforts to raise a total of Rs 4,400 crore via NCDs for tenures ranging from 2-10 years in one or more series.

“We wish to inform you that TML is desirous of issuing the first series of its rated, listed, unsecured redeemable NCDs aggregating to Rs 300 crore and in this regard is holding a meeting of its duly constituted committee of senior executive and directors on April 27, 2016”, a statement by the Mumbai-based company said.