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The merger of Tata Motors Finance with Tata Capital has been approved by their respective boards, according to a filing.
Tata Motors Finance Ltd is step-down wholly-owned subsidiary of Tata Motors Ltd. The auto major in the filing stated that its board has also approved the merger of Tata Motors Finance Ltd with Tata Capital Ltd. As consideration for the merger, TCL will issue its equity shares to the shareholders of TMFL resulting in Tata Motors effectively holding a 4.7 per cent stake in the merged entity

Merger of Tata Motors Finance with Tata Capital gets board approval

Tata Capital Ltd, the flagship financial services company of the Rs 31-lakh crore Tata Group, has raised $200 million through a three- year loan from Singapore's DBS Bank and Taiwan's CTBC Bank.
The company has the flexibility to price the loan 120 basis points above the one month, three month or six month Secured Overnight Financing Rate (SOFR), in line with the market movement. The loan is part of the company's regular borrowing programme. CEO Rajiv Sabharwal confirmed the company had raised the funds as part of its $750-million external commercial borrowing (ECB) programme , in line with the Reserve Bank of India (RBI) guidelines.

Tata Capital raises $200 million via overseas term loans

Capital infusion of Rs. 594 crores by TSL in FY2023 through rights issue, good internal accruals strengthened the net worth to Rs. 18,149 crores as on March 31, 2023 from Rs. 12,836 as on March 31, 2022, consequently, despite the strong loan book growth in FY2023 the gearing declined to 6.2x on March 31, 2023 from to 6.7x as on March 31, 2022. 

The issuer has made timely interest payments

Mr Rajiv Sabharwal, MD & CEO

Tata Capital Limited enjoys strong financial and operational support from TSL, which, in the past, has included access to capital, management and systems, and supervision by a strong board. TCL also enjoys strong commitment from TSL as it is the primary financial services lending arm for the Tata Group.

The product comprises of home loans, home equity/loan against property, personal loans, construction equipment financing, auto financing & microfinance.

Controlled slippages resulted in improvement in the asset quality improved on a consolidated basis in FY2023 with the Gross NPA and Net NPA improving to 1.7% and 0.4%, respectively, as on March 31, 2023 from 1.9% and 0.6%, respectively, as on March 31, 2022.

9.35%Tata Capital Limited 07 Jan 2025

ISIN:

INE306N08037

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Tata Capital Limited

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Merger of Tata Motors Finance with Tata Capital gets board approval

Tata Capital raises $200 million via overseas term loans

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