Tata Motors to raise Rs1,000 crore via NCDs

Stock Market

Tata Motors Ltd on Tuesday introduced that its board will meet on 5 May to contemplate elevating fund up to Rs1,000 crore by way of non convertible debentures.

“We would like to inform you that the Company is desirous of offering Rated, Listed, Unsecured, Redeemable, Non-Convertible Debentures aggregating Rs1,000 crores in three tranches and in this regard is holding a meeting of its duly constituted Committee of the Board on May 5, 2020,” the corporate stated in a discover to exchanges.

Earlier this month, S&P Global Ratings had downgraded Tata Motors’ senior unsecured notes from B+ to B on weakening credit score metrics due to the financial impression of the coronavirus.

India’s automakers are looking at an unsure future, not sure after they would give you the chance to reopen their factories closed for practically a month due outbreak of covid-19.

Leave a Reply

Your email address will not be published. Required fields are marked *