Tata Motors to Raise Rs 2,000 Crore via Securities

Tata Motors announced that its board has approved raising up to Rs 2,000 crore through securities on a private placement basis. This decision involves issuing non-convertible debentures (NCDs). The company did not specify the reasons for the fundraising, and its shares marginally increased on the BSE.

Tata Motors, a prominent name in the automotive industry, has received board approval to raise up to Rs 2,000 crore. The funds will be raised through securities on a private placement basis.

The company plans to issue non-convertible debentures (NCDs) worth the stated amount. Despite the announcement, Tata Motors has not disclosed the specific reasons behind the fundraising decision.

The company's shares saw a slight uptick of 0.31 percent, closing at Rs 681.90 on the Bombay Stock Exchange on Wednesday.

(With inputs from agencies.)