11 March, 2008
The Company has major growth plans for expanding its position in the domestic and global markets in both the commercial vehicle and passenger vehicle business. This will be achieved by upgrading and enhancing the Companyâ€™s product portfolio, expanding manufacturing facilities in India and strategic acquisitions/alliances in India and abroad. Whilst this may require incurrence of expenditure for organic growth over the next 3-4 years, the acquisition opportunities will have to be financed upfront. The said funds are being raised to part-finance overall funding requirements to meet some of the strategic plans.