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.