Tata Sons raises Rs 4,115 crore via NCDs since Cyrus Mistry’s removal:

Tata Sons, the holding company of the $103-billion conglomerate, raised Rs 4,115 crore by selling bonds to marquee local investors since removing Cyrus Mistry as chairman in October, regulatory filings with the ministry of corporate affairs show.

Tata Sons plans to use the funds raised for general corporate purposes, including refinancing of debt and investment in securities or providing loans to group companies, it said in a board resolution passed on September 15. The board approved raising not more than Rs 6,750 crore at “prevalent market rates in appropriate forms” in Indian or foreign currency in one or more tranches.

The funds were raised from December 14 to March 6. Tata Sons declined to comment. “We do not share information on such matters,” a Tata Sons spokesperson said in an emailed reply to ET. “From time to time, Tata Sons raises funds as part of its on-going activities.”
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