Tata Motors surges on plan of raising Rs 3,000 crore via NCDs

Tata Motors is currently trading at Rs. 502.25, up by 9.35 points or 1.90% from its previous closing of Rs. 492.90 on the BSE.

The scrip opened at Rs. 496.90 and has touched a high and low of Rs. 502.70 and Rs. 493.15 respectively. So far 99334 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 502.70 on 18-Jul-2016 and a 52 week low of Rs. 266.00 on 11-Feb-2016.

Last one week high and low of the scrip stood at Rs. 502.70 and Rs. 471.10 respectively. The current market cap of the company is Rs. 142310.27 crore.

The promoters holding in the company stood at 33.01%, while Institutions and Non-Institutions held 41.30% and 8.65% respectively.

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.