Outcome of Board Meeting Tata Motors

Tata Motors Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 25, 2015, has approved the following :

1. Terms of the proposed Rights Issue of ordinary shares of face value of Rs. 2 each (the "Ordinary Shares") and ‘A’ ordinary shares of face value of Rs. 2 each (the "'A' Ordinary Shares"):

Purpose : Rights Issue Entitlement

Corporate Action Type : Rights Issue of Ordinary Shares and 'A' Ordinary Shares

Ratio of Rights entitlement : a) 6 fully paid-up Ordinary Shares for every 109 fully paid-up Ordinary Shares held as on the book closure date.
b) 6 fully paid-up ‘A’ Ordinary Shares for every 109 fully paid-up ‘A’ Ordinary Shares held as on the book closure date.

Issue Price : a) Rs. 450 per Ordinary Share (including premium of Rs. 448 per Ordinary Share.)

b) Rs. 271 per ‘A’ Ordinary Share (including premium of Rs. 269 per ‘A’ Ordinary Share.)

Size of the Issue : Up to Rs. 7,500 crores

Number of Shares to be offered through the Issue : a) Up to 150644759 Ordinary Shares
b) Up to 26530290 'A' Ordinary Shares

The above terms would be subject to the approvals of SEBI, Reserve Bank of India and all other appropriate authorities as may be necessary and/or subject to such conditions as may be imposed by any of them while granting such approvals, which may be agreed to by the Board of Directors and/or a committee thereof.

2. The buy-back of Secured Non-Convertible Debentures issued by the Company in May 2009, maturity date being March 31, 2016, face value of Rs. 1250 crores, as part of its Debt restructuring programme to ensure a healthy debt equity mix, balanced maturity profile, better terms that would include lower cost of debt.