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Tata Capital's arm to raise up to Rs 3,000 crore through debentures

Rating agency Icra has assigned AAA rating to proposed issuance of non-convertible debentures.

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Tata Capital Financial Services, the retail and wholesale lending arm of Tata group, has planned to raise up to Rs 3,000 crore through debentures to finance its lending operations.   Rating agency Icra has assigned AAA rating to proposed issuance of non-convertible debentures.   The agency said it took note of the increased scale of operations. Its loan portfolio rose by an annualised rate of 31 per cent in September 2018 (H1FY19) to Rs 41,915 crore from Rs 36,319 crore as on March 31, 2018.   The expansion in assets is driven by loan against property (LAP), personal ...