Tata Motors launches GDR and Convertible Notes Issue


The Board of Tata Motors had authorised a Committee of the Board to consider and approve raising of long term capital by the Company including the quantum, size, terms and type of security as permissible under the existing Shareholders Resolution. After the approval of the Committee, the Company has on October 9, 2009 launched an issuance of GDSs and Convertible Notes for an aggregate amount upto $600mn, with an option to retain higher amount in the international market.