Tata Motors rights issue disappoints, now what?
Tata Motors' twin rights issue has received a lukewarm response, thus, leaving many questions unanswered about how the conglomerate will pay for the Jaguar and Land Rover (JLR) acquisition from Ford Motors. The company would use the proceeds of its two rights issues to refinance $3 billion of the JLR acquisition bridge loan by June 2009, but the company is way away from the target.
