The board of Tata Motors will, on Monday, consider approving two tranches of buyback of non-convertible debentures amounting to ₹450 crore, the company said in a regulatory filing on Wednesday. The company plans to buy back ₹200-crore worth NCDs maturing on November 30, 2018, and Rs 250-crore worth NCDs maturing on May 28, 2019. The automobile major said the buyback is part of the company’s debt restructuring programme to ensure “balanced” maturity profile. Shares of Tata Motors ended up 2.7 per cent at ₹364.60 on the NSE.

ICICI Bank has acquired 13.8 per cent stake in Gammon India through strategic debt restructuring, the lender said in an exchange filing. Gammon India had earlier allotted 1.51 crore shares at ₹11.89 a share to 11 lenders which converted their debt into equity, thus holding 52.55 per cent stake in the company. ICICI Bank will monitor the performance of the construction company on behalf of the lenders. Shares of ICICI Bank gained 0.8 per cent at ₹238.80 while those of Gammon India fell 3.7 per cent to ₹18 on the BSE.

Tata Power on Thursday said it has raised ₹500 crore by issuing unsecured, redeemable, taxable, non-convertible, debentures on private placement basis. The company has successfully issued and allotted 5,000 unsecured, non-cumulative, redeemable, taxable, listed, rated, non-convertible debentures (NCDs) of face value ₹10 lakh each aggregating to ₹500 crore on private placement basis. According to a company notification on the exchanges, these NCDs carry a floating interest rate linked to the base rate of the State Bank of India and have been rated CARE AA. Shares of Tata Power tumbled 1.7 per cent at ₹65.7 on the NSE.

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