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Tata Motors is planning to raise Rs 300 crore through issuing second series of non-convertible debentures (NCDs) to bankroll its expansion plan.
Tata Motors has said in a regulatory filing that “The company is desirous of issuing the second series of its rated, listed, unsecured, redeemable NCDs aggregating Rs 300 crore and in this regard is holding a meeting of its duly-constituted committee of the board on May 25, 2016.”
The fund raising is a part of company’s plan to mop up Rs 4,400 crore by issuing NCDs in one or more tranches on a private placement basis.
