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Tata Capital Financial Services is planning to issue, by way of a private placement, non-convertible debentures (NCDs) aggregating up to Rs 1,300 crore in one or more tranches / series.
The board of directors of the company approved the issue of NCDs at their meeting held on March 30, 2015, the company said in a BSE filing.
As part of the resource raising exercise, the non-banking finance company will be issuing Unsecured, Redeemable, NCDs qualifying as Subordinated Debt (Tier II) up to Rs. 500 crore.
It is also planning to issue Unsecured, Non-Convertible Perpetual Debentures up to Rs. 300 crore; and Unsecured, Redeemable, NCDs up to Rs 500 crore.
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