Tata Motors plans $525m share sale

MUMBAI: Tata Motors is likely to launch a $525-million share sale to institutional investors on Friday, two sources with direct knowledge said.



In June, Tata Motors had said it planned to raise about $1.1 billion through a combination of shares, bonds, debentures and other equity-linked instruments to cut debt and grow its business. The company , which had net debt of about $4 billion on its books at the end of March 2010, has reduced its debt-to-equity ratio to 2.05 from 4 in March 2009.




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