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The board of Tata Motors has approved the raising of Rs 500 crore through issuance of non-convertible debentures.
In a regulatory filing, the company said that its duly authorised committee in its meeting on Tuesday approved the issuance of upto 5,000 rated, listed, unsecured, redeemable, Non-Convertible Debentures (NCDs) E30-B Series of face value Rs 10 lakh each.
The deemed date of allotment is July 22, 2021 and the redemption date is March 31, 2021.
Around 3 p.m., its shares on the BSE were trading at Rs 304.20, lower by Rs 4.50 or 1.46 per cent from its previous close.
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