Tata Motors plans to raise Rs 3,000 crore via NCDs

Tata Motors is planning to raise Rs 3,000 crore in the next 12 months through non-convertible debentures (NCDs) or rupee denominated non-convertible foreign currency bonds on a private placement basis. In this regard, the company will be seeking approval of shareholders at its upcoming AGM to be held on 9 August.

The company will use the fund for repayment of certain NCDs/term loans from banks and to fund part of the ongoing capital expenditure during the next 12 months as also for general corporate purposes.