Tata Motors’ prized possession, JLR is all set to be listed on the London Stock Exchange (LSE) from FY 2012, according to recent reports. On the condition of anonymity, 3 senior officials from Tata Motors have confirmed these reports!
According to the trio, Tata Motors is currently in talks with major banks in order to successfully list JLR on the LSE. The trio even said that SBI Caps, HSBC, JP Morgan and Citi are the investment gurus who are currently helping the Indian car maker with this task.
Earlier this month, Tata Motors had announced to invest £1 billion in JLR RD. Later a report suggested JLR to add 2,000 employees to their current total of 18,000 employees. These reports indicate that Tata Motors will need financial help in order to carry out these proposed plans and what better way to get financial arm than listing your company on stock exchange.
A senior analyst with a brokerage firm stated, “A JLR listing is a good idea. It will ensure fund raising for the company without dilution at the Tata Motors level. JLR has a capacity expansion plan and still has a pile of debt.” When ET NOW inquired Tata Motors, “there is no such plan,” came the response.
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