Tata Chemicals is seeking shareholders approval to raise up to Rs 1,000 crore from private placement of non-convertible debentures (NCD) for general corporate purposes. According to the agenda for the company’s annual general meeting (AGM) scheduled for August 21, the company has moved a special resolution for authorising its board to raise up to Rs 1,000 crore via debentures.
Moreover, in order to augment the long-term resources for financing and for general corporate purposes, the company may offer or invite subscriptions for non-convertible debentures in one or more tranches on private placement, issuable/redeemable at par.
Tata Chemicals is the world’s second largest producer of soda ash with manufacturing facilities in Asia, Europe, Africa and North America. The company’s industry essentials product range provides key ingredients to some of the world’s largest manufacturers of glass, detergents and other industrial products.
