Tata Motors is planning to raise Rs 400 crore by issuing non-convertible debentures and will hold a board committee meeting for this on Friday.
"The company is desirous of offering the third series of its rated, listed, unsecured, redeemable NCDs aggregating to Rs 400 crore and in this regard is holding a meeting of its duly constituted Committee of the Board on July 15, 2016," Tata Motors said in a filing to BSE.
It added that the issuance is pursuant to the approval of the shareholders at the 70th Annual General Meeting of the company held on August 13, 2015 and the Board's resolution passed at its meeting held on March 30, 2016.
