Tata Motors had total debt of 199.8 billion rupees as of June, Chief Financial Officer C. Ramakrishnan said last week.
The automaker may sell shares, convertible bonds and other securities in India or overseas, Tata Motors said on Aug. 10. The funds may be raised at one time or in separate tranches, it has said. Investors also approved a proposal to raise borrowing limits for the company.
“This is one of the best times for Tata Motors to raise the funds,” said Umesh Karne, a Mumbai-based analyst at BRICS Securities Ltd. “Jaguar Land Rover and Tata’s local sales are doing very well.”
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