Tata Tele Maharashtra To Raise Up To Rs 1,300 Crore
New Delhi: Tata Teleservices (Maharashtra) on Monday said its board of directors has given nod to a proposal to raise up to Rs 1,300 crore through a mix of preference shares and debentures. "The Board of Directors of the company, at its meeting held on July 31, 2017, has considered and approved to raise funds up to an aggregate amount of Rs 1,300 crore by issue of one or more types of the following securities/instruments," Tata Teleservices (Maharashtra) said in a filing to the Bombay Stock Exchange (BSE).Â
These instruments include redeemable preference shares to Tata Teleservices Ltd (promoter) on preferential basis; and/or non-convertible debentures in one or more tranches by way of private placement to the promoters or others; and/or inter corporate deposit/loans, it added.
Shares in Tata Teleservices (Maharashtra)Â closed at Rs 7.86 apiece on Monday, up 2.61Â per cent from their previous close on the BSE.
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