Tata Motors allots Underlying Ordinary Shares

Pursuant to terms and conditions of the Notes, Tata Motors Ltd has allotted 89,38,590 Underlying Ordinary Shares of Rs. 2/- each (representing 17,87,718 ADSs of Rs. 10 each at a premium of Rs. 590.595 each) and 28,51,105 Ordinary Share of Rs. 2/- each at a premium of Rs. 118.119 each arising out of conversion of 306, 4% Foreign Currency Convertible Notes due in 2014 of US$100,000 each.

Post the above allotment, the share capital of the Company is 2,719,945,846 Ordinary Shares of Rs. 2/- each and 481,959,620 'A' Ordinary Shares of Rs. 2/- each.

Shares of Tata Motors Ltd was last trading in BSE at Rs.308.40, up by Rs.7.90 or 2.63%. The stock hit an intraday high of Rs.311.80 and low of Rs.302.

The total traded quantity was 11.26 lakhs compared to 2 week average of 6.88 lakhs.

Source : Equity Bulls

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