Mumbai, July 20 (IANS) 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.

--IANS rrb/sn/bg