Tata Motors, on Wednesday, fixed the issue prices of two different types of shares at Rs.450 and Rs.271 a share for its proposed Rs.7,500-crore rights issue.
The company’s board also approved buy-back of secured non-convertible debentures issued in May, 2009, of the face value of Rs.1,250 crore that mature on March 31, 2016, as part of its debt restructuring programme.
In a filing to the BSE, the board approved fixing of the issue price at Rs.450 a share, including premium of Rs.448 per ordinary share. For ‘A’ ordinary share, the price has been fixed at Rs.271 a share, including a premium of Rs.269, it added.
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