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Tata Motors opens rights issue on Sept 29

Tata Motors plans to open rights issue worth Rs 4150 crore ($914 million) from September 29 till October 20 for ordinary and A-share stockholders on record as of September 16.

24 Sep 2008

Tata Motors plans to open rights issue worth Rs 4150 crore ($914 million) from September 29 till October 20 for ordinary and A-share stockholders on record as of September 16.

The proceeds would be utilized to repay short-term funding of its $2.3 billion acquisition of Jaguar and Land Rover from Ford Motor Co.

In June 2009 the bridge loan of $ 3 billion expires. JM Financial, ICICI Securities, Citigroup and JPMorgan are among the banks involved in the offering.



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