Business Daily from THE HINDU group of publications
Sunday, Jan 18, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Sunday, Jan 18, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
|
|
|
|
|
Corporate
-
Corporate Bonds Tata Capital plans to raise Rs 500 cr through bond issue Our Bureau Mumbai, Jan. 17 Tata Capital Ltd plans to raise Rs 500 crore from the market through issue of non-convertible debentures, subject to the Securities and Exchange Board of India approvals. “We are expecting SEBI approvals to our application shortly,” said Mr Govind Sankaranarayanan, CFO of Tata Capital Ltd, adding, “It is after a long time that any corporate is taking this route to raise money.” Over the last one year retail and institutional investors have become quite averse to equity investments through the primary market, he said. The proposed bonds will be allotted to investors in units, each unit having a value of Rs 1,000. The minimum investment amount for the retail investors will be Rs 10,000. These bonds will be listed on the National Stock Exchange of India soon after the closure of the issue and a person investing in these bonds will have the option to remain invested for a fixed period of time before its maturity or will has the exit option, part or complete, at any time after listing. Company servicesThe money raised by Tata Capital will be primarily used for servicing its retail finance products — auto loans, personal loans and home loans. Tata Capital is wholly-owned by Tata Sons Ltd. The company has carved out seven business verticals as its focus: investment services, retail finance, corporate finance, investment banking, private equity, wealth management and rural finance. Part of the money raised through the issue of bonds will also be used for strengthening its other business verticals such as equity and commodity trading for retail and institutional customers. More Stories on : Corporate Bonds | Financial Services | Consumer Finance
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2009, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|
