Tata Motors did not give an indication on the quantum of the amount that the company intends to raise.
Tata Motors on Friday said its board will meet next week to consider a proposal to raise funds through various means.
The board meeting is scheduled to be held on Tuesday, May 18, 2021 to consider and approve the audited financial results for the quarter and financial year ended March 31, 2021.
"The board in the said meeting would also consider a proposal for raising funds by way of issue of one or more instruments including convertible securities of any description or debt securities, through preferential issue, private placements, rights issue or any other methods or combination thereof in the domestic and/or international markets," Tata Motors said in a regulatory filing.
However, Tata Motors did not give an indication on the quantum of the amount that the company intends to raise.
Last month Tata Motors said it has set in motion a business plan to protect and serve the interests of its customers, dealers and suppliers as the lockdowns enforced in various parts of the country are expected to impact vehicle demand temporarily.
As per its business agility plan, the company aims to maintain an optimal level of stock with dealers to meet customer demand, depending on the market situation.
By carefully calibrating and matching supplies with retail demand, the company shall ensure that optimal levels of inventory are maintained with dealers to meet whatever customer demands arise and also be prepared for a rebound in demand once the situation returns to normalcy, the company had said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.