Tata Motors to raise $600 mn in international mkt

Posted By: Staff
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Mumbai, Oct 8: India's largest auto maker Tata Motors on Friday, Oct 9 said it will raise up to $600 million through issue of securities in the international market.

"The company launched an issuance of GDS (Global Depository Shares) and convertible notes for an aggregate amount up to $600 million, with an option to retain higher amount in the international market," Tata Motors said in a filing to the Bombay Stock Exchange.

In Aug 2009, Tata Motors had approached public for the second time to raise about Rs 1,500 crore via fixed deposit schemes, offering up to 9.88 per cent annual interest for a three-year deposit.

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