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Tata group companies cut debt by selling shares, some biz portfolios

Group's net debt fell to Rs 2.04 trn in FY21 from Rs 2.6 trn a year ago; Debt of unlisted Tata Sons, the holding company, will go up this fiscal with Air India deal

A private security guard stands at the exit gate of the headquarters of Tata Consultancy Services (TCS) in Mumbai, India, Oct. 13, 2016. (Photo: Reuters)

(Photo: Reuters)

Dev Chatterjee Mumbai
The Tata group companies including Indian Hotels Company, Tata Motors Finance and Tata Teleservices are taking steps to reduce debt by selling shares and part of business portfolios.

On Wednesday, Indian Hotels launched a qualified institutional placement of shares worth Rs 2,000 crore to reduce its debt by half, as per a stock exchange notification. Tata Motors Finance is in talks with State Bank of India to sell its vehicle portfolio worth Rs 14,500 crore which would reduce consolidated debt of its parent, Tata Motors, said a banker.

The Group’s telecom arm, Tata Teleservices repaid debt worth Rs 2,420 crore

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First Published: Mar 23 2022 | 7:12 PM IST

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