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Tata Motors to raise long term capital funds

At the Board Meeting of the Company held today, the Board, inter alia, decided to seek Shareholders’ approval through a Postal Ballot for raising funds equivalent to about Rs.4,700 crores through a combination of issue of Ordinary Shares, ‘A’ Ordinary Shares, Convertible Bonds, Debentures, Warrants or other equity linked instruments in the domestic and/or international markets in one or more tranches.

Published On Jun 28, 2010 07:09 PM By Vidyadhar
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The above fund raising proposals will be for meeting the Company’s growth plans as well as for reducing the debt on its balance sheet.

The timing and structure of the issues will be decided depending upon market conditions post Shareholders’ and other approvals.

The Board also considered appropriate to seek Shareholders’ approval for raising the limits for borrowings and for creation of security on the Company’s properties from Rs.20,000 crores to Rs.30,000 crores.





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Vidyadhar

Vidyadhar takes charge of the quality and consistency of the content produced by CarDekho correspondents. With over 5 years of involvement in content & social media marketing, he believes that the www is an ever evolving phenomenon. Considering the ways the web algorithms are evolving, foreseeing the threats and opportunities and managing online business accordingly is going to play a crucial role. He comes from a highly valued content development background, where, during the first phase of his corporate career, he served Westpac, an Australian bank. Later, he came into the context of technical writing where he managed teams that dealt in producing maintenance guides meant for software applications. This part of his career bestowed upon him an outlying vision to see things from end-user perspective. He bagged a masters degree in English and is pursuing MBA in Digital Marketing at the moment. 

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