Tata Motors Passenger Vehicles Ltd.

Tata Motors has received an approval for subscription, on a private placement basis, up to 5,000 Rated, Listed, Unsecured, 7.50% Coupon, Redeemable, Non-Convertible Debentures (NCDs) of face value Rs 10,00,000 each, at par, aggregating up to Rs 500 crore, including green shoe amount of Rs 200 crore. The authorized committee at its meeting held on October 18, 2016 has approved for the same.

The NCDs will be listed on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). CARE has assigned ‘AA+’ rating to the said issue. The date of allotment of said NCDs is October 20, 2016, while the redemption date/maturity date is October 20, 2021.

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.