India's Tata Motors to raise $300 mln via deposits

• Source: Gasgoo.com
• [14:37 August 26 2009]
• Comments

Tata Motors, India's largest vehicle maker, plans to offer a fixed deposit scheme to investors to raise up to 15 billion rupees ($300 million), Chief Financial Officer C. Ramakrishnan told reporters Tuesday.

The company had a fixed deposit scheme last year, through which it raised about 25 billion rupees. Under company law guidelines, the maximum Tata Motors can raise through fixed deposits had been increased to 40 billion rupees, he said.

(Reuters)