Tata Motors in talks with banks to raise $300 million

Tata Motors is in talks with banks for raising $300 million through dollar-denominated bonds. The issuance would be carried out in two-three weeks. In this regard, the company has appointed ANZ, Bank of America Merrill Lynch, Citigroup and HSBC as arrangers for the issue. Tata Motors is India's largest automobile company, is the leader in commercial vehicles in each segment, and among the top in passenger vehicles with winning products in the compact, midsize car and utility vehicle segments. It is also the world's fourth largest truck and bus manufacturer.