Tata Plans $1.7- bn rights issue for Jaguar

Tata Motors Limited says it would raise up to $1.7 billion through three simultaneous rights issues of various securities to help fund its purchase of the Jaguar and Land Rover brands. The deal is expects to close by June. Tata Motors said that it would then raise $500-$600 million by way of issuing securities in foreign markets. The three rights issues comprise equity shares, "A" shares and convertible preference shares.