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Tata Teleservices plans to raise up to Rs 20,000 cr via bonds

Tata Tele did not specify the purpose of the fundraising

Press Trust of India  |  New Delhi 

Tata Teleservices closure may cost the group dear
The company added that this will be done through issue of one or more types of instruments

Tata Group's listed telecom company today said it plans to raise up to Rs 20,000 crore through issuance of preference shares to promoters or via bonds.

(Maharashtra) Ltd (TTML), whose consumer mobile business is part of the recent deal announced between the and Airtel, in a notice to said its board will meet on October 18 to consider the fundraising.


It, however, did not specify the purpose of the fundraising.

"...a meeting of Board of Directors of the company is scheduled to be held on October 18 to consider the proposal to raise additional funds up to an aggregate amount of Rs 20,000 crore," it said.

The company added that this will be done through the issue of one or more types of instruments including redeemable preference shares to promoters, non-convertible in one or more tranches, and/or inter-corporate deposit/loans from the promoters and others.

First Published: Sat, October 14 2017. 20:56 IST
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