Tata Capital Ltd plans to raise Rs 2,000cr through issue of NCDs on private placement basis in tranches over the next year.
The meeting of the board of directors was held on February 1, where the shareholder's approved the issue of the NCDs.
In February 2009, Tata Capital had raised Rs 1500cr through issue of listed NCDs with a rate of return between 11% and 12% annually under 4 options. The issue was oversubscribed 6 times.
Tata Capital expects to close fund-raising for its $ 350-400 mn PE corpus within the next 6 months. The fund raising will be from domestic and international sources.
Tata capital is the financial services arm of the Tata Group. Besides PE, Tata Capital is into retail, corporate and construction and infrastructure financing, as well as the securities business.
Tata Motors:
Last year, Tata Motors Ltd had raised $840mn through issue of secured NCds The funds were raised to partly repay the $3 bn bridge facility taken for JLR acquisition.
In October, the company raised $375 mn through FCCBs to repay the balance of the bridge loan.
Earlier this month, DC has reported Tata motors' plans to divest 49% stake in Tata Motors Finance Ltd to SBI.
Transaction Reference: ET
KVEZAR VIEW
| Date | Type | Buyer | Target | Size ($mn) | State |
| 07/02/12 |
M&A |
Piramal Healthcare Limited |
Looking For |
- |
Planned |
| 07/02/12 |
Private Equity |
Life Insurance Corporation of India |
Dena Bank |
25.49 |
Announced |
| 02/02/12 |
Private Equity |
|
AU Financiers India Private Limited |
- |
Planned |
| 01/02/12 |
M&A |
Kotak Mahindra Bank Limited |
Credit Card Portfolio |
- |
Completed |
Company |
| Name | Promoters | Office | Competitor | Website |
| Tata Capital Limited |
Tata Sons Limited |
One Forbes, Dr.V.B.Gandhi,Fort |
Edelweiss Financial Services Limited (Formerly Edelweiss Capital Ltd)
Shriram Capital Limited |
www.tatacapital.com |
