Tata Motors Ltd., the owner of Jaguar Land Rover, is seeking to raise at least $525 million selling shares to institutional investors to help reduce debt and fund growth, the company said.
The sale will include $200 million of ordinary shares and $325 million of ‘A’ shares, with an option to increase the ‘A’ shares sale to as much as $400 million, the company said yesterday in an e-mailed statement that didn’t define the ‘A’ share class.
Citigroup Global Markets India Pvt. and Credit Suisse Securities (India) Pvt. are managing the share sale, Tata Motors said.
