Tata Motors raises over Rs 9,000 crore

Tata Motors raises over Rs 9,000 crore

Tata Motors raises over  Rs 9,000 crore

Tata Motors has raised over Rs 9,000 crore through the recently concluded rights issue with an oversubscription of 1.21 times.

“The share issue was oversubscribed by 1.21 times and Tata Motors collected an amount of Rs 9,040.56 crore on applications. Ordinary shares were oversubscribed by 1.17 times, with an amount of Rs 7,956.73 crores collected on applications and ‘A’ Ordinary Shares were oversubscribed by 1.51 times, with an amount of Rs 1,083.83 crore collected on applications,” Tata Motors said.

It had offered up to 15.06 crore ordinary shares of face value Rs 2 for cash at a price of Rs 450, including a premium of Rs 448 each, in the ratio of 6 ordinary shares for every 109 fully paid-up ordinary shares and up to 2.65 crore ‘A’ ordinary shares of face value of Rs 2 at a price of Rs 271, including a premium of Rs. 269 each, in the ratio of 6 ‘A’ ordinary shares for every 109 fully paid-up 'A' ordinary shares, in each case on a rights basis to eligible shareholders.

The share issue had commenced on April 17. and closed on May 2, 2015.

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