In a bid to restructure its debt, Tata Motors is planning to buy back non-convertible debentures (NCDs) worth Rs 1250 crore. The company's board will meet on March 25, 2015, to consider and approve the proposal.
The secured NCDs which were issued in May 2009 have maturity date of March 31, 2016. The buy back is a part of the company's debt restructuring programme to ensure a healthy debt-equity mix, balanced maturity profile, better terms that would include lower cost of debt.
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.
Tata Motors is currently trading at Rs. 555.05, up by 7.45 points or 1.36% from its previous closing of Rs. 547.60 on the BSE.
The secured NCDs which were issued in May 2009 have maturity date of March 31, 2016. The buy back is a part of the company's debt restructuring programme to ensure a healthy debt-equity mix, balanced maturity profile, better terms that would include lower cost of debt.
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.
Tata Motors is currently trading at Rs. 555.05, up by 7.45 points or 1.36% from its previous closing of Rs. 547.60 on the BSE.
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