Tata Motors Passenger Vehicles Ltd.

Tata Motors is planning to raise up to Rs 4400 crore through non-convertible debentures (NCDs) in FY16 that began in April. Once the proposal is approved by shareholders, the money will be used to replace short-term borrowings and fund part of the ongoing capital expenditure.

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.