Tata Motors is planning to raise Rs 4,000 crore of long-term resources by issuing securities in the domestic and overseas markets.
According to a release issued by the company to the BSE today, the funds are being raised to part-finance overall funding requirements to meet strategic plans.
The company has major growth plans for expanding its position in the domestic and global markets in both the commercial vehicle and passenger vehicle business. This will be achieved by upgrading and enhancing the company's product portfolio, expanding manufacturing facilities in India and strategic acquisitions or alliances in India and abroad.
"While this may require incurrence of expenditure for organic growth over the next 3-4 years, the acquisition opportunities will have to be financed upfront. The said funds are being raised to part-finance overall funding requirements to meet some of the strategic plans," the statement added.
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