Tata Motors Raises $300 Million From Overseas Markets
Tata Motors Ltd. said it has raised $300 million (around Rs 2,154 crore) from overseas markets.
"The company has raised $300 million by allotment of the notes in the international markets," Tata Motors said in a regulatory filing.
Notes have been allotted on Nov. 20, 2019 and will be listed on the Singapore Exchange Securities Trading Ltd., it added.
The auto major said it also executed a subscription agreement with Merrill Lynch (Singapore) Pte Ltd. and Australia and New Zealand Banking Group Ltd. on Nov. 13, 2019, and issued an offering circular in relation to the issuance of the notes.
The company did not disclose the reasons for raising the capital.