Tata Motors Passenger Vehicles Ltd.

Tata Motors has decided to withdraw the non-convertible debenture (NCD) issue to raise up to Rs 1,000 crore, due to tight money market conditions. On May 5, a board-constituted committee had approved raising up to Rs 1,000 crore through issue of non-convertible debentures 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.