Tata Motors on Friday approved issuance of Non-Convertible Debentures (NCDs) worth up to Rs 500 crore on a private placement basis to eligible investors.
In an exchange filing today, Tata Motors said that up to 50,000 NCDs of face value Rs 1 lakh each will be issued in two tranches – 7.08% Tata Motors Limited 2028 – E31B tranche-I NCDs and 7.08% Tata Motors Limited 2028 – E31B Tranche II NCDs.
In tranche I NCDs, up to 30,000 NCDs of face value of Rs 1,00,000 each amounting to up to Rs 300 crore will be issued while in the next tranche, up to 20,000 NCDs amounting to Rs 200 crore will be issued.
The NCDs will be listed on the Wholesale Debt Market Segment of the NSE.
The proposed date of allotment of both tranche I and tranche 2 is May 13, 2025. Meanwhile, the proposed date of maturity of tranche I is May 11, 2028 and tranche II is May 12, 2028.
The coupon offered has been fixed at 7.08% per annum for both the tranches.
Tata Motors said that the NCDs carry 'CRISIL AA+/Stable' rating.
The announcement was made after market hours and shares of Tata Motors today ended at Rs 652 on the NSE, up by Rs 7.75 or 1.20%.
Tata Motors shares have fallen 36% over a 1 year period while declining by 13% on the year-to-date basis.
The stock has slipped below its 50-day and 200-day simple moving averages of (SMAs) of Rs 655 and Rs 831.
The counter has traded with very high volatility with 1-year beata at 1.3 according to Trendlyne.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
In an exchange filing today, Tata Motors said that up to 50,000 NCDs of face value Rs 1 lakh each will be issued in two tranches – 7.08% Tata Motors Limited 2028 – E31B tranche-I NCDs and 7.08% Tata Motors Limited 2028 – E31B Tranche II NCDs.
In tranche I NCDs, up to 30,000 NCDs of face value of Rs 1,00,000 each amounting to up to Rs 300 crore will be issued while in the next tranche, up to 20,000 NCDs amounting to Rs 200 crore will be issued.
The NCDs will be listed on the Wholesale Debt Market Segment of the NSE.
The proposed date of allotment of both tranche I and tranche 2 is May 13, 2025. Meanwhile, the proposed date of maturity of tranche I is May 11, 2028 and tranche II is May 12, 2028.
The coupon offered has been fixed at 7.08% per annum for both the tranches.
Tata Motors said that the NCDs carry 'CRISIL AA+/Stable' rating.
The announcement was made after market hours and shares of Tata Motors today ended at Rs 652 on the NSE, up by Rs 7.75 or 1.20%.
Tata Motors shares have fallen 36% over a 1 year period while declining by 13% on the year-to-date basis.
The stock has slipped below its 50-day and 200-day simple moving averages of (SMAs) of Rs 655 and Rs 831.
The counter has traded with very high volatility with 1-year beata at 1.3 according to Trendlyne.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
You may also like
Canadian PM Carney going to Washington on May 6
Dilip the Dreamer: Farah Khan's cook wants to replace Salman Khan in Tiger 4
People of Maharashtra, Gujarat actively participated in freedom movement: Andhra Governor
Trump renews threat to revoke Harvard's tax-exempt status
Big order, big impact: JSW Steel's Bhushan Power buyout cancelled by SC over IBC violations
