Tata Motors is scheduled to have a board meeting on May 28. The main agenda for the meeting shall be to discuss fund raising options for long term. The Board of Directors shall also consider annual accounts and dividends for the company.
According to the company official sources, it shall raise appropriate long term resources to the tune of Rs. 4000 crores through appropriate securities in foreign and domestic market. Additional funds are being raised to part-finance over all funding requirements that would complement company’s strategic plans. The company already has ambitious growth plans for domestic as well as global market. It aims to become one of the biggest car makers in the global market.
"This will be achieved by upgrading and enhancing the company's product portfolio, expanding manufacturing facilities in India and strategic acquisitions/alliances in India and abroad. Whilst 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 filing had stated.
Tata Motors already has the widest product portfolio ranging from ultra cheap car, Nano to one of the most expensive and luxurious Jaguar and Land Rover.
