11. 35% Non-Convertible Debentures (NCDs) issued by Tata Motors Finance

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We are pleased to provide you an opportunity to invest in the Non-Convertible Debentures (NCDs) issued by Tata Motors Finance Ltd. These bonds have been assigned a rating of “A/Stable by CRISIL and LA+ by ICRA”. A limited quantity of these bonds is currently available with us for sale (in the secondary market).

Issue Highlights:

Details	Particulars
Instrument	Unsecured, Subordinate, Perpetual NCDs
Debenture Series	TMFL Perpetual 'A' FY 2011
Rating	A/Stable by CRISIL and LA+ by ICRA
Face Value	Rs.5 Lakh only
Minimum Investment	1 Debenture
Coupon/Interest Rate	11.35% p.a. for the first 10 years
YTM	10.75%
Interest Payment Frequency	Annual
Tenure	Perpetual
Issuance/Trading	Demat mode only
Listing	WDM segment of NSE

Company Overview:

Tata Motors Finance Limited (TMFL) is a wholly owned subsidiary of Tata Motors Limited. The company provides finance for Tata Motors passenger cars and commercial vehicles. TMFL is one of India’s top five commercial vehicle (CV) financiers. As on June 30, 2010, TMFL and TML (through its finance division) had total assets under management (AUM) of Rs.152.9 billion; around 75 per cent of the AUM comprised CV assets.  Tata Motors Finance Limited was formerly known as ‘TML Financial Services Ltd’. The name of the Company was changed to Tata Motors Finance Limited w.e.f. August 28, 2007. Tata Motors Finance Limited has been registered with the RBI and is a Systemically Important Non Deposit Accepting Non- Banking Finance Company and has been classified as an Asset Financing Company. The Company has an objective of becoming the preferred financier for Tata Motors Limited customers and channel partners by capturing customer spending over the vehicle life-cycle, by extending value added products combining financing offerings with fleet management, operating leases and other products. TMFL provides finance for Tata Motors passenger cars and commercial vehicles.