Tata Electronics Private Limited (TEPL) intends to raise more than Rs 500 crore as a term loan to expand its electronics manufacturing capacity in Hosur, Tamil Nadu.

The extension is expected to cost Rs 3,400 crore. TEPL is a Tata Group greenfield company with experience in precision component production.

The manufacturing facility's first phase (named 1A) was completed in December 2022.

The company incurred a cost of Rs 4,225 crore for the project, which was funded in a debt-equity ratio of 70:30.