Tata Sons to infuse additional Rs 2,420 crore in Tata Tele by March

Tata Sons, the holding company of the Tata group, will infuse an additional Rs 2,420 crore in its loss-making unlisted subsidiary, Tata Teleservices, which will, in turn, use the cash to pay off its lenders before March.

According to a banking source, Tata Teleservices will have to pay Rs 1,530 crore to banks by February end and another tranche of Rs 890 crore by March 11. “We have been assured by Tata Teleservices management that Tata Sons would be infusing the cash into the company,” said a lender close to the development.

Tata Sons will raise the cash by participating in the