Tata Motors Passenger Vehicles Ltd.

Tata Motors has received approval from an authorised committee to raise upto Rs 300 crore via issue of non-convertible debentures (NCDs) to bankroll its expansion plans. The authorised committee has approved issuance of privately placed 3,000 non-convertible debentures (NCDs) of face value Rs 10,00,000 each, at par, aggregating upto Rs 300 crore.

The fund-raising is part of the company’s plan to mop-up Rs 4,400 crore through issuance of NCDs in one or more tranches on a private placement basis.

Tata Motors is India's largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.