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TTML plans to raise up to Rs 200 billion through debt instruments

August 08, 2018

Tata Teleservices Maharashtra Limited (TTML) is planning to raise Rs 200 billion worth funding. The company said that Board of Directors is scheduled to meet on August 10, 2018, with regard to this. The company further added that it is in talks to monetise certain assets, proceeds from which will be used to meet financial obligations.

If approved, the funding will be raised through one or more than one type of debt instruments including redeemable preference shares to promoters on preferential basis, non-convertible debentures or inter corporate deposit or loans from the promoters or other entities.

TTML’s total comprehensive loss fell from 5.06 billion in April-June 2017 to 4.54 billion in April-June 2018. The company’s revenue from operations fell by around 40 per during the same period and its current liabilities have exceeded its current assets.

 
 

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