Connect with us

Company News

Tata Electronics lines up Rs 7,600 crore

Tata Electronics has lined up Rs 7,600 crore through a mix of capital infusion by the parent company, Tata Sons and has also secured loans for its greenfield electronic component and contract manufacturing business.

According to the Registrar of Companies (RoC), Tata Electronics received over Rs 608 crore capital infusion from its holding firm Tata Sons in 2022-23. On April 13, 2022, Tata Electronics Private Limited Board resolved that pursuant to the provisions of Companies Act, 2013, it approved the allotment of 17.5 crores Equity Shares of Rs. 10/- each at par, aggregating to Rs. 175 crore to Tata Sons Private Limited (TSPL), in respect of which the subscription amount of Rs.10/- per equity share aggregating to Rs 175 crore has been received Tata Electronics. It passed a similar resolution for Rs 363 crore on Sept 20, 2022 and for Rs 70 crore on November 14, 2022.

Till now, it has received a total capital infusion of Rs 1,820 crore. The company’s approved capital is Rs 2,000 crore. Moreover, it has also raised secured loans totaling Rs 5,799 crore. ProjectsToday

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Copyright © 2024 Communications Today

error: Content is protected !!