By IANS
Mumbai : Tata Motors Ltd Tuesday said that it would raise Rs.40 billion through securities from domestic as well as overseas markets to meet its expansion plans.
Issuing an official communiqué to the Bombay Stock Exchange (BSE), the firm said the securities would be issued through one or more tranchés and the board members would be taking a decision on this aspect soon.
According to the company, it wants to expand its position in both commercial and passenger vehicles. Moreover, as per the envisaged plans, the upgrading and enhancement would require strategic alliances and acquisitions.
“This would require finances for the next three to four years and these funds will be raised to part-finance overall funding requirements,” the statement added.