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Tata plans $1.7 bn rights issue for JLR
May 30, 2008
India's Tata Motors Limited said it would raise up to $1.7 billion through three simultaneous rights issues of various securities to help fund its purchase of the Jaguar and Land Rover brands.
The deal is expected to close by June.
Tata Motors said that it would then raise $500-600 million by way of issuing securities in foreign markets.
The three rights issues comprise equity shares and convertible preference shares.
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