TVS Motor Company Limited has completed the allotment of non-convertible debentures to raise Rs 1,000 crore on a private placement basis.
This comes after the TVS board previously evaluated the fundraising plan, as well as raising Rs 500 Crore in a seperate NCD offering, both occuring in the month of July.
TVS Motor's NCD Terms and Structure
The Administrative Committee of Directors approved the allotment of 1,00,000 senior, rated, unsecured, redeemable non-convertible debentures with a face value of Rs 1,00,000 each on August 10, 2026. The issuance was executed following bidding on the NSE Electronic Bidding Platform, along with an aggregate premium of Rs 14 lakh. The debentures carry a coupon rate of 7.28% per annum and feature a tenure of 39 months, set to mature on November 10, 2029.