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Tata Motors shareholders approve raising Rs 6,494 cr through security issue

Tata Motors' shares on Friday fell 1.16 per cent to Rs 162.30 apiece on the BSE

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Tata Motors

Press Trust of India  |  New Delhi 

Tata Motors shareholders approve raising Rs 6,494 cr through security issue

on Friday said its shareholders on Friday have approved a proposal to raise up to Rs 6,494.35 crore from Tata Sons through issuance of securities through preferential allotment.

In an extraordinary general meeting (EGM) held on Friday, 99.79 per cent of the shareholders polled in favour of the resolution, said in a regulatory filing.

Last month, the company's board had approved to raise the capital, which it plans to utilise to reduce debt and to refinance existing loans.

Tata Motors' shares on Friday fell 1.16 per cent to Rs 162.30 apiece on the BSE.

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First Published: Fri, November 22 2019. 18:40 IST
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