Tata Motors Passenger Vehicles Ltd.

Tata Motors has decided to raise Rs 500 crore through issuance of Non-Convertible Debentures (NCDs) on private placement basis. The company’s Authorised Committee in its meeting held on March 24, 2017 has approved the issuance of privately placed 5,000 Rated, Listed, Unsecured, Redeemable, 7.84% Coupon NCDs of face value Rs 10 lakh each, at par, aggregating up to Rs 500 crore. The rated, unsecured redeemable NCD issue is for a tenure of 1645 days from the date of allotment, and will mature on September 27, 2021. The security will be listed on both BSE and NSE.

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.