Piramal, Tata Motors, Coastal Gujarat to issue NCDs to raise Rs 5,700 crore

Piramal Enterprises and two Tata group entities, Tata Motors and and Coastal Gujarat Power, are planning to raise over Rs 5,700 crore through debentures. This is by taking benefit of cheaper funds available for better-rated entities amid the huge liquidity in the system.
 

Piramal Enterprises’s (PEL’s) Rs 3,000 crore fundraising is through debentures. Tata Motors also informed the stock exchange that it plans to raise about Rs 1,000 crore in three tranches and the committee of its board will meet on May 5 to consider the proposal.
 

Coastal Gujarat Power, a unit of Tata Power, managing the Mundra Ultra Mega