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TTML gets shareholders’ nod for fund raising of up to Rs 5,000 crore

17 Sep 2020 Evaluate

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.

Tata Teleservice(Mah Share Price

45.65 1.81 (4.13%)
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