Tata Motors’ shares have witnessed a surge today after Jaguar Land Rover (JLR), its subsidiary, secured a 1. 5 billion ($2 billion) loan.
Category: financial
Proceeds from the IPO will be used to strengthen the company’s Tier-1 capital base, supporting future capital requirements, including onward lending. Tata Capital, the financial services arm of the Tata Group, filed draft papers in April through the confidential pre-filing route and secured approval from the market regulator, SEBI, in July.