Global automaker Tata Motors to raise up to Rs 500 crore via securities

Tata Motors on June 14 said its board has approved a proposal to raise up to Rs 500 crore through the issue of securities on a private placement basis.

A meeting of the duly authorised committee has approved subscription, on a private placement basis, up to 5,000 rated, listed, unsecured, redeemable, non-convertible debentures (NCDs) of face value Rs 10 lakh each, aggregating up to Rs 500 crore, the auto major said in a regulatory filing.

Part of the USD 113 billion Tata group, the company is India's largest automaker with operations in India, the UK, South Korea, Thailand, South Africa, and Indonesia through a strong global network of 103 subsidiaries, 10 associate companies, 3 joint ventures and 2 joint operations as on March 31, 2020.