New Delhi: Property-developed automobile large Tata Motors is setting up to increase Rs one,000 crore Non-Convertible Debentures (NCDs), the organization knowledgeable the inventory exchanges on April 28.
Tata Motors explained in an intimation to inventory exchange that a assembly of the board of directors is scheduled to be held on April fifth to take into consideration raising of cash by way of issuance of shown, secured/unsecured, redeemable non-convertible debentures on private placement basis on three tranches/sequence.
“We would like to inform you that the Firm is desirous of giving Rated, Detailed, Unsecured, Redeemable, Non-Convertible Debentures aggregating Rs a thousand crores in three tranches and in this regard is holding a assembly of its duly constituted Committee of the Board on May possibly five, 2020. The over issuance is pursuant to the approval of the Board of Directors’ resolution passed at its assembly held on March 27, 2020,” the organization explained in a regulatory submitting.
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