Tata Tele Maharashtra to raise Rs 200 billion through debt instruments

The parent firm of the company Tata Teleservices (TTSL) has dues of around Rs 100 billion pending to be paid to the telecom department

Debt-ridden telecom firm Tata Teleservices Maharashtra on Friday received its board’s approval to raise additional fund of Rs 200 billion through debt instruments.

“...the board of directors of the company at its meeting held on August 10, 2018 has approved raising of additional funds up to an aggregate amount of Rs 200 billion," Tata Teleservices (Maharashtra) said in a regulatory note.

The fund raising will be done either by issue of securities, instruments etc including redeemable preference shares to promoters on preferential basis, non-convertible debentures or inter corporate deposit or loans from the promoters or other entities. The parent firm of the