Tata Teleservices Maharashtra’s (TTML) shareholders have approved raising of up to Rs 5,000 crore by issuing preferential shares to parent firm and non-convertible debentures on private placement basis.
TTML had sought approval for raising up to Rs 2,500 crore by way of issuing non-cumulative redeemable preference shares- series 6 on preferential basis to its parent firm Tata Teleservices (TTSL) and/or Tata Sons and/or to Panatone Finvest in one or more tranches. The company also sought shareholders nod to issue non-convertible debentures of up to Rs 2,500 crore on private placement basis.
TTML is a part of the Tata Group. This telecom services company has its presence all over Maharashtra and Goa.
