In a bid to fund ongoing and future activities, Tata Motors has received its board’s approval for Rs 7,500-crore rights issue. The Mumbai-based company will issue a little over 150 million ordinary shares at Rs 450 each and 26.5 mn ‘A’ ordinary shares at Rs 271 each. The issue price is 16 per cent lower than the Rs 535 it is trading on the BSE. For every 109 fully paid-up shares, six will be allotted in both categories.
These terms would be subject to approvals of the various regulatory authorities and/or subject to such conditions as may be imposed by any of them while granting such approvals.
Tata Motors is India's largest automobile company, is the leader in commercial vehicles in each segment, and among the top in passenger vehicles with winning products in the compact, midsize car and utility vehicle segments. It is also the world's fourth largest truck and bus manufacturer.
Company Name | CMP |
---|---|
Tata Motors | 1046.85 |
Ashok Leyland | 199.00 |
Force Motors | 9081.25 |
Olectra Greentech | 1610.00 |
Tata Motors - DVR | 706.90 |
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