Tata Motors board approves raising Rs 500 cr via NCDs

Tata Motors

Mumbai, (Samajweekly) The board of Tata Motors has approved the raising of Rs 500 crore through issuance of non-convertible debentures.

In a regulatory filing, the company said that its duly authorised committee in its meeting on Tuesday approved the issuance of upto 5,000 rated, listed, unsecured, redeemable, Non-Convertible Debentures (NCDs) E30-B Series of face value Rs 10 lakh each.

The deemed date of allotment is July 22, 2021 and the redemption date is March 31, 2021.

Around 3 p.m., its shares on the BSE were trading at Rs 304.20, lower by Rs 4.50 or 1.46 per cent from its previous close.