New Delhi: Tata Motors on Tuesday stated a board constituted committee has permitted elevating as much as Rs 1,000 crore by way of challenge of non-convertible debentures on a non-public placement foundation.
A gathering of the duly authorised committee held on Tuesday permitted the supply for subscription, on a non-public placement foundation, as much as 10,000 rated, listed, unsecured, redeemable, non-convertible debentures (NCDs) of face worth Rs 10,00,000 every at par aggregating as much as Rs 1,000 crore, Tata Motors stated in a regulatory submitting.
These shall be issued in three tranches of Rs 500 crore, Rs 300 crore and Rs 200 crores with redemptions due on September 30, 2022, November 28, 2022 and December 29, 2022 respectively, it added.
The corporate additional stated curiosity payable shall be topic to discovery after open e-book bidding on BSE platform.
Shares of Tata Motors have been buying and selling at Rs 84.95 per scrip, greater by 1.25 per cent on the BSE.