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Tata Motors to raise Rs 300 crore through bond sale

03 Nov 2014 Evaluate

Tata Motors is planning to raise Rs 300 crore through a bond sale to fund its increased capital expenditure plans for product development. The coupon rate for the new proposed bond sale will be at 9.35%. In addition to meeting capital expenditure proceeds of the sale will be also used for general corporate purposes.

Recently, the company successfully raised $750 million (about Rs 4,600 crore) in what was its second fund raising activity this year. The company got $4.2 billion orders for issue of senior unsecured notes.

Tata Motors is India's largest automobile company, is the leader in commercial vehicles in each segment, and among the top in passenger vehicles with winning products in the compact, midsize car and utility vehicle segments. It is also the world's fourth largest truck and bus manufacturer.

 

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