Tata Motors to raise Rs 500 cr in 3 tranches via issue of securities

Tata Motors on Monday said a committee of the company's board will meet later this week to finalise raising of up to Rs 500 crore via issue of securities.

"The company is desirous of offering the rated, listed, unsecured, redeemable, NCDs aggregating to Rs 500 crore comprising three tranches and in this regard is holding a meeting of its duly constituted committee of the board on November 14, 2019," Tata Motors said in a regulatory filing.

The above issuance is pursuant to the approval of the resolution passed by the board at its meeting held on October 25, 2019, it added.

Tata Motors shares on Monday ended 1.68 per cent up at Rs 172 apiece on the BSE.