Tata Motors Ltd announced that its board will meet on Wednesday, March 19, to consider a fund raising proposal up to ₹2,000 crore. The leading manufacturer of domestic and commercial vehicles said the fund raising will be done through the issuance of rated, listed, unsecured, redeemable, Non-Convertible Debentures on a private placement basis.

Tata Motors’ board had approved the fund raising plans in March and may last year. The funds raised are expected to be utilized for general corporate purposes, including but not limited to, research and development, capacity expansion, and working capital requirements. The meeting on March 19 is expected to provide further details on the terms and conditions of the NCD issuance, including the coupon rate and the maturity period.