New Delhi, Mar 19 (PTI) Tata Motors on Wednesday said its board has approved a proposal to raise up to Rs 2,000 crore by issuing securities on a private placement basis.

The committee constituted by the board has approved the issuance of non-convertible debentures (NCDs), aggregating up to Rs 2,000 crore, the auto major said in a regulatory filing.

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The Mumbai-based company did not elaborate on the reasons for the fundraising.

Shares of the company on Wednesday ended 0.31 per cent up at Rs 681.90 apiece on BSE.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)