However, no other details were disclosed. Tata Motors Ltd would consider various options for raising long term capital funds at the board meeting on May 28, 2008, a company statement said. It is also scheduled to report its fourth-quarter earnings on the same day. The company, which in January unveiled an ultra low-cost car Nano priced at Rs one lakh, has already announced plans to raise four billion dollars for its local and overseas plans, and has also arranged a bridge loan of three billion dollars for the Ford deal.
It had, in March, reached a deal to buy Ford Motor Co's Jaguar and Land Rover brands for 2.3 billion dollars.
Moody's Investors Service, which said in April it was reviewing Tata Motors for a possible downgrade, has said the bridge loan would increase Tata Motors' leverage ''materially in the near term'', given the increasingly volatile and challenging market conditions.