Tata Motors

Tata Motors raised US$ 750 million (about Rs3,525 crore) through Global Depository Receipts (GDRs) and convertible bonds, to pay off rest of the debt that it incurred for acquiring UK’s iconic brands, Jaguar and Land Rover.

The issue comprises of GDRs of $375 million and an equivalent amount in convertible bonds. The size of the offering was increased by 25% as the initial fund-raising target of $600 million (Rs2,820 crore) closed in less than an hour, following robust investor demand.
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A newly purchased Tata Nano car that was parked in a parking lot in the posh Hazratganj locality of Lucknow caught fire Tuesday evening, its owner said.

Nobody was hurt in the incident, said R.H. Rizvi, who bought the car in July from a Lucknow based dealer.
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Tata Motors said it may undertake a pre-emptive check on the 7,500-odd Nanos that have been delivered till date after a faulty combination switch in the world’s cheapest car resulted in fires in at least three cases across the country.

Three cases of fire in the car had been reported in the past few days in Delhi, Lucknow and Ahmedabad. There were no reports of injury or loss of life in any of the incidents.
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India’s largest auto-maker Tata Motors on Wednesday launched ‘Indigo Manza’, an entry-level sedan, priced between Rs 4.8 lakh for base petrol version and Rs 6.75 lakh for the highest diesel version, (ex-showroom Delhi).

“It is the best car we have made so far. It showcases our capacity like no other car,” Tata Motors Head (Passenger Car Business) Rajiv Dube told reporters here.
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