Tata Motors trades higher as its arm raises $425 million through unsecured notes
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Tata Motors is currently trading at Rs. 327.05, up by 1.60 points or 0.49% from its previous closing of Rs. 325.45 on the BSE.
The scrip opened at Rs. 325.45 and has touched a high and low of Rs. 330.35 and Rs. 324.50 respectively. So far 585254 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 357.00 on 03-Mar-2021 and a 52 week low of Rs. 92.00 on 16-Jun-2020.
Last one week high and low of the scrip stood at Rs. 330.35 and Rs. 312.10 respectively. The current market cap of the company is Rs. 108623.87 crore.
The promoters holding in the company stood at 46.41%, while Institutions and Non-Institutions held 25.69% and 17.10% respectively.
Tata Motors’ wholly-owned arm, TML Holdings (TMLH) has raised $425 million (over Rs 3,100 crore) in unsecured notes. TMLH is the holding company of JLR Automotive Plc (JLR), Tata Daewoo, Korea, and a few other international operations of Tata Motors.
The proceeds from the notes issuance will be used by TMLH for refinancing the outstanding syndicated loan facility of GBP 225 million, for meeting the issue expenses and for other general corporate purposes.
Tata Motors is India’s largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.
