Tata Motors to offer 5000 NCDs
DSIJ Intelligence / 22 Jun 2017
Tata Motors Limited is engaged in manufacture of motor vehicles. It is engaged mainly in the business of automobile products consisting of all types of commercial and passenger vehicles, including financing of the vehicles.
On Wednesday, Tata Motors informed that a meeting of the committee constituted by the board of the directors was held on June 21, 2017 which approved the offer for subscription of non-convertible debentures (NCDs) up to Rs 500 crore on a private placement basis.
Tata Motors Limited is engaged in manufacture of motor vehicles. It is engaged mainly in the business of automobile products consisting of all types of commercial and passenger vehicles, including financing of the vehicles.
The company will offer 5,000 NCDs, which will be listed both on BSE & NSE. The face value will be Rs 10,00,000 of each NCD. The coupon rate is fixed at Rs 7.50% and Credit Analysis & Research Limited has assigned “CARE AA+” rating.
Meanwhile, at Rs 461 per share at 1228 hours on BSE, Tata Motors was trading up by 0.8%. It hit a high of Rs 463.20 and a low of Rs 458 so far during the day.
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