The minimum down payment would be Rs 2,999 for Nano, which would come in three models. There would be 15 preferred financiers for the booking whose names would be disclosed in three days. The delivery will start in July, 2009.
The ex-showroom price of the base model would be Rs 1 lakh. The application forms will be available for Rs 300 at 30,000 locations across 1,000 cities, he said. State Bank of India would be the qualified banker for collection of bookings in 850 cities, he said.
The initial 50,000-60,000 Nano cars is to be supplied from its Pantnagar plant primarily set up to manufacture Ace trucks, Tata said.
The first one-lakh customers will be selected by draw of lots from the bookings, he said, adding that those not allotted would have the option to retain their bookings.