Tata Motors on June 10 said it was looking at further acquisition opportunities and strategic alliances in India and abroad and is seeking to raise $1 billion in debt or equity from the overseas market.
The company is seeking the shareholders'' consent for raising up to $1 billion through the issue of Foreign Currency Convertible Bonds (FCCBs) or equity shares in the international market, the circular said. Besides, it has sought shareholders'' nod for raising the company''s borrowing limit to Rs. 20,000 crore ($5 billion). As part of its long term funding plans, it would raise Rs. 7,200 crore through three simultaneous but separate rights issues to part-finance its $2.3-billion buyout of Jaguar and Land Rover. The shareholders'' nod have also been sought to raise $500-600 million (Rs. 2,700 crore) in the international market, which would be out of the approval sought for $1 billion.
The company is seeking the shareholders'' consent for raising up to $1 billion through the issue of Foreign Currency Convertible Bonds (FCCBs) or equity shares in the international market, the circular said. Besides, it has sought shareholders'' nod for raising the company''s borrowing limit to Rs. 20,000 crore ($5 billion). As part of its long term funding plans, it would raise Rs. 7,200 crore through three simultaneous but separate rights issues to part-finance its $2.3-billion buyout of Jaguar and Land Rover. The shareholders'' nod have also been sought to raise $500-600 million (Rs. 2,700 crore) in the international market, which would be out of the approval sought for $1 billion.
No comments:
Post a Comment