Tata Motors is planning to raise Rs 300 crore through
a bond sale to fund its increased capital expenditure plans for product
development. The coupon rate for the new proposed bond sale will be at
9.35%. In addition to meeting capital expenditure proceeds of the sale
will be also used for general corporate purposes.
Recently,
the company successfully raised $750 million (about Rs 4,600 crore) in
what was its second fund raising activity this year. The company got
$4.2 billion orders for issue of senior unsecured notes.
Tata
Motors is India's largest automobile company, is the leader in
commercial vehicles in each segment, and among the top in passenger
vehicles with winning products in the compact, midsize car and utility
vehicle segments. It is also the world's fourth largest truck and bus
manufacturer.
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