Tata Motors` rights issue to open around September end

Tata Motors, the country`s largest automobile company, today announced the terms of the Rights issue of the ordinary shares and A ordinary shares. The terms are subject to the approvals of SEBI, Reserve Bank of India and all other appropriate authorities as may be necessary and/or subject to such conditions as may be imposed by any of them while granting such approvals, which may be agreed to by the board of directors and / or a committee thereof.


The committee of directors today approved the terms of simultaneous and unlinked issue of ordinary shares on a Rights basis in the ratio of 1 ordinary share for every 6 shares held. The ordinary shares would be issued at a price of Rs 340 a share of face value of Rs 10 each aggregating Rs 21.86 billion.