Non-Convertible Debentures are fixed-income instruments issued for a specific tenor and interest rates. These debentures cannot be converted into equity. Companies use NCDs as it enables them to raise funds without diluting any equity.
Each tranche will carry a fixed coupon rate of 7.65% per annum, with annual interest payments. Tranche I matures on March 26, 2027, Tranche II on March 24, 2028, and Tranche III on March 27, 2028.The proposed deemed date of allotment for all three tranches is March 27, 2025.
The funds raised are expected to be utilised for general corporate purposes, including but not limited to, research and development, capacity expansion, and working capital requirements.
Brokerage firm Macquarie has maintained an ‘Outperform’ rating on Tata Motors, with a price target of ₹826 per share. After a period of share price underperformance, Macquarie believes Tata Motors now offers an attractive risk-reward opportunity.The brokerage mentioned that JLR’s global peers have provided mixed demand commentary.
Macquarie identified key factors to watch for Tata Motors (TTMT)-
– Management’s confidence in achieving JLR’s net cash balance sheet by March 2025, supported by earnings progression during the quarter.
– A positive growth outlook for the US, along with signs of recovery in the EU and UK—though partially offset by volume risks in China.
– Market-share gains in the domestic commercial vehicle (CV) segment.
Shares of Tata Motors Ltd. are trading 0.18% higher at ₹681.30. The stock is down 9% so far in 2025.
