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Tata Capital Financial Services today said it plans to raise Rs 3,000 crore by issuing non-convertible debentures (NCDs).
The decision was taken at a meeting of its Board of Directors held on July 27.
“Board of Directors... have approved issuing, by way of a private placement, secured, redeemable, Non-Convertible Debentures of up to Rs 3,000 crore,” Tata Capital Financial Services said in a BSE filing.
The NCDs would be issued in tranches/series and the coupon rates would be approved by the Directors from time to time, it added.
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