Mumbai Feb 23 (IANS) Automobile major Tata Motors on Thursday said it is considering to raise Rs 500 crore through issuance of unsecured redeemable non-convertible debentures (NCDs).
The company is desirous of offering the sixth series of its rated listed unsecured redeemable NCDs aggregating to Rs 500 crore and in this regard is holding a meeting of its duly constituted committee of the board on March 02 2017 the company said in a regulatory filing.
According to the automobile major the move to issue the NCDs is in accordance with the approval of the shareholders which was obtained by a special resolution at the 71th Annual General Meeting (AGM) held on August 9 2016 and the resolution of the Board of Directors passed at its meeting held on February 14 2017.
--IANS
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Tata Motors considering to raise Rs 500 cr
