Tata Capital to get Rs 165-cr infusion through issue of preference shares

Tata Capital has a diversified product portfolio with a presence in both the wholesale and retail finance segments

Tata Capital (TCL), holding unit for the financial services businesses of the Tata group, will get capital infusion of Rs 165 crore through preference shares. The proceeds will be used for growth in operations. CRISIL has assigned ‘AAA/Stable’ rating on preference shares of Rs 165 crore. The infusion will happen in three tranches of Rs 40 crore each, and one tranche of Rs 45 crore.

CRISIL has also reaffirmed its ratings on the company’s other debt instruments and bank facilities at ‘AAA/Stable/A1+’.

There is increased strategic importance of the financial services business to Tata Sons, the group holding company. This is in