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Tata Motors board to consider raising long-term funds today

28 Jun 10 10:58 AM
Money Control
The board of Tata Motors is meeting today to discuss the company's fund raising plans.

Sources said the company is likely to pass an enabling resolution to raise up to Rs 2,500 crore. The funds may be raised via the global depositary receipt (GDR), foreign currency convertible bond (FCCB), or the qualified institutional placement (QIP) route.

The proceeds raised will help deleverage the balance sheet of the company.