TATA MOTORS LTD. - Outcome of Board Meeting

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TATA MOTORS LTD. - Outcome of Board Meeting

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25 Mar 2015
Tata Motors Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 25, 2015, has approved the following :<BR><BR>1. Terms of the proposed Rights Issue of ordinary shares of face value of Rs. 2 each (the "Ordinary Shares") and A ordinary shares of face value of Rs. 2 each (the "'A' Ordinary Shares"):<BR><BR>Purpose : Rights Issue Entitlement<BR><BR>Corporate Action Type : Rights Issue of Ordinary Shares and 'A' Ordinary Shares<BR><BR>Ratio of Rights entitlement : a) 6 fully paid-up Ordinary Shares for every 109 fully paid-up Ordinary Shares held as on the book closure date.<BR>b) 6 fully paid-up A Ordinary Shares for every 109 fully paid-up A Ordinary Shares held as on the book closure date.<BR><BR>Issue Price : a) Rs. 450 per Ordinary Share (including premium of Rs. 448 per Ordinary Share.)<BR><BR>b) Rs. 271 per A Ordinary Share (including premium of Rs. 269 per A Ordinary Share.)<BR><BR>Size of the Issue : Up to Rs. 7,500 crores<BR><BR>Number of Shares to be offered through the Issue : a) Up to 150644759 Ordinary Shares<BR>b) Up to 26530290 'A' Ordinary Shares<BR><BR>The above terms would be subject to the approvals of SEBI, Reserve Bank of India and all other appropriate authorities as may be necessary and/or subject to such conditions as may be imposed by any of them while granting such approvals, which may be agreed to by the Board of Directors and/or a committee thereof.<BR><BR>2. The buy-back of Secured Non-Convertible Debentures issued by the Company in May 2009, maturity date being March 31, 2016, face value of Rs. 1250 crores, as part of its Debt restructuring programme to ensure a healthy debt equity mix, balanced maturity profile, better terms that would include lower cost of debt.
View all announcements for TATA MOTORS LTD.	Source: BSE India

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