TVS Motor to raise up to Rs 500 cr via issue of securities

New Delhi: TVS Motor Company on Tuesday said it will raise up to Rs 500 crore through issue of securities on a private placement basis.

The company’s board which met on Tuesday, has approved the issuance of non-convertible debentures, aggregating up to Rs 500 crore on a private placement basis, TVS Motor Company said in a regulatory filing.

The two-wheeler major, however, did not disclose the reasons for raising the capital.