TVS Holdings raises Rs 650 crore via NCDs

TVS Holdings has raised Rs 650 crore through the allotment of 65,000 Senior, Rated, Unsecured, Listed, Redeemable, Non-Convertible Debentures (NCDs) of the face value of Rs 1 lakh each on private placement basis to the identified investors. These NCDs carry an 8.10% interest rate payable annually, with maturity scheduled for June 24, 2029. The NCDs are listed on the National Stock Exchange of India (NSE). TVS Holdings, formerly known as Sundaram-Clayton, is an Indian automotive components company, based in Chennai. Part of the TVS Group, it makes aluminium and magnesium castings for the automotive industry.