Tata Sons, the holding company of the Tata group, is on a fund-raising spree for new businesses such as aviation and infrastructure, investment in rights issues of group companies and debt reduction. Since January, the company has raised Rs 1,915 crore through non-convertible debentures, say bankers.
Through the next two years, the company will need an additional Rs 2,000 crore for its wireless telephony operator Tata Teleservices and direct-to-home operator Tata Sky Ltd, both loss-making companies. In January, Tata Sons had invested Rs 2,400 crore in Tata Teleservices, used by the telco to repay debt.
Tata Sons has been investing in electronic retail stores Croma; now, however, this company won’t require additional fund infusion.
In January and March, Tata Sons had raised funds through three-, five- and 10-year bonds, at an average rate of 9.8 per cent. It had raised Rs 630 crore in December 2013 and Rs 890 crore in May 2013, through the same route.
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