Tata Capital to raise Rs 3,000 crore via NCDs

Tata Capital Financial Services today said it plans to raise Rs 3,000 crore by issuing non-convertible debentures (NCDs).

The decision was taken at a meeting of its Board of Directors held on July 27.

"Board of Directors... Have approved issuing, by way of a private placement, secured, redeemable, Non-Convertible Debentures of up to Rs 3,000 crore," Tata Capital Financial Services said in a BSE filing.

The NCDs would be issued in tranches/series and the coupon rates would be approved by the Directors from time to time, it added.