General Announcement::Withdrawal of Issue of Unsecured NCD's aggregating upto Rs1000 Crores on a private placement basis

Issuer & Securities

Issuer/ Manager
TATA MOTORS LIMITED
Securities
TATA MOTORUS$500M4.625%N200430 - XS1121907676 - 19RB
TATA MOTORUS$250M5.75%N241030 - XS1121908211 - 19SB
TATA MOTORUS$300M5.875%N250520 - XS2079668609 - FGLB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
08-May-2020 20:15:52
Status
New
Announcement Sub Title
Withdrawal of Issue of Unsecured NCD's aggregating upto Rs1000 Crores on a private placement basis
Announcement Reference
SG200508OTHRMNQD
Submitted By (Co./ Ind. Name)
Hoshang K Sethna
Designation
Company Secretary
Effective Date and Time of the event
08/05/2020 17:00:00
Description (Please provide a detailed description of the event in the box below)
This is in furtherance to our letter dated April 28, 2020 and May 5, 2020 to consider an offering of Non-Convertible Debentures (NCDs) aggregating upto Rs1000 Crores on a private placement basis.

Pursuant to the provisions of Regulation 30 (2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( Regulations ) read together with Schedule III of the Regulations, we hereby inform that the Company has decided to withdraw the issue for private placement of unsecured NCDs in view of the higher cost expectations from the market participants due to the tight money market conditions. The Company continues to have sufficient liquidity and would consider issuance of NCDs at appropriate time and under normalized market conditions with necessary approvals.

This is for the information of the Exchange and of the Debenture holders.

Attachments

Reg30WithdrawalofNCD.pdf
Total size =222K