Tata Motors to raise up to Rs 500 cr via NCDs

The auto major on Monday said its board has approved a proposal to raise up to Rs 500 crore through the issue of securities on a private placement basis.

The authorised committee of Tata Motors approved to offer for subscription, on a private placement basis, up to 5,000 rated, listed, unsecured, redeemable, non-convertible debentures (NCDs) E30-A Series of face value Rs 10,00,000 each, at par, aggregating up to Rs 500 crore.

The deemed date of allotment is 16 June 2021 with maturity period of 1,808 days (approximately five years). The redemption date is 29 May 2026. The NCDs will be listed on BSE and National Stock Exchange.

Tata Motors, part of the Tata group, is a global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses.

On a consolidated basis, the auto major reported net loss of Rs 7,605.40 crore in Q4 FY21 lower than net loss of Rs 9,894.25 crore in Q4 FY20. Total revenue from operations during the quarter increased 41.8% year-on-year (YoY) to Rs 88,627.90 crore in Q4 FY21.

Shares of Tata Motors were up 0.73% at Rs 353.20 on BSE.

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