The company becomes the latest in the growing line of automakers raising capital through the corporate bonds route in the wake of COVID-19.
A fundraising committee of the company's board of directors on 11 May approved issuing of NCDs worth of Rs 300 crore with a green-shoe option Rs 200 crore. The greenshoe option refers to an over-allotment option that allows the company to issue more bonds than the based number agreed upon if the need arises.
The debentures will be listed on the wholesale debt market segment of NSE, the company said.
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