Tata Motors to raise up to Rs 2,000 crore via NCDs

New Delhi: Tata Motors on Wednesday said its board has approved a proposal to raise up to Rs 2,000 crore by issuing securities on a private placement basis.

The committee constituted by the board has approved the issuance of non-convertible debentures (NCDs), aggregating up to Rs 2,000 crore, the auto major said in a regulatory filing.

The Mumbai-based company did not elaborate on the reasons for the fundraising.

Shares of the company on Wednesday ended 0.31 per cent up at Rs 681.90 apiece on BSE.