JLR funding rejig: How does it work?
The current volatile situation in the markets is putting up the heat on India's second-largest automotive company, Tata Motors, to raise funds for $2.3-billion acquisition of Jaguar-Land Rover (JLR) from Ford Motor Co earlier this year. The funding for JLR buyout is getting complex and the latest rejig brings down the right issue funding from Rs 7200 crore to Rs 4200 crore. This means the company will have to dilute less of its equity for raising funds.
