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Homegrown auto major Tata Motors plans to buy back non-convertible debentures (NCDs) aggregating Rs 450 crore ahead of their scheduled maturity as part of its plans to restructure debt.
A meeting of the board of directors is scheduled to be held on January 18 to consider and approve buyback of unsecured NCDs of two tranches, the company said in a BSE filing.
The first tranche of unsecured NCDs totaling Rs 200 crore is due to mature on November 30, 2018, while the second tranche of Rs 250 crore is due to mature on May 28, 2019, it added.
A meeting of the board of directors is scheduled to be held on January 18 to consider and approve buyback of unsecured NCDs of two tranches, the company said in a BSE filing.
The first tranche of unsecured NCDs totaling Rs 200 crore is due to mature on November 30, 2018, while the second tranche of Rs 250 crore is due to mature on May 28, 2019, it added.
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