04 February,2009 04:49 PM IST | | PTI
Tata Capital, a wholly-owned subsidiary of Tata Sons Ltd, has entered the capital market with a public issue of secured Non-Convertible Debentures aggregating Rs 500 crore.
The public issue has an option to retain over-subscription of up to Rs 1,000 crore. The issue that was launched on February 2 closes on February 24 or earlier on such date as may be decided at the discretion of the Committee of Directors of the company.
Interest at 12 per cent per annum is being offered for annual and cumulative interest payment options, Tata Capital CFO Govind Shankaranarayanan told reporters here.
The minimum amount for application for quarterly, annual and cumulative interest payments was Rs 10,000 and additional investments in multiples of Rs 1,000, he said.
The minimum amount for monthly interest payments was Rs 1,00,000 and additional in multiples of Rs 1,00,000, at a rate of 11 per cent per annum with an annualised yield of 11.57 per cent, he added.
