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REFILE-Tata Motors sets dates for $914 mln rights issue

Tue Sep 23, 2008 11:47pm EDT

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(Refiles to drop $ in first graph before 41.5 billion rupees)

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HONG KONG, Sept 24 (Reuters) - Tata Motors (TAMO.BO), India's top vehicle maker, plans to open its 41.5 billion rupee ($914 million) rights issue on Sept 29, for shareholders on record as of Sept 16, according to a term sheet obtained by Reuters.

The rights issue to ordinary and A-share stockholders will close on Oct 20.

Tata has said that proceeds would be used to make an early repayment on some of the short-term funding of its $2.3 billion acquisition of Jaguar and Land Rover from Ford Motor Co (F.N). The $3 billion bridge loan expires in June 2009. [ID:nBOM159702]

Among the banks involved in the offering are JM Financial, ICICI Securities, Citigroup (C.N) and JPMorgan (JPM.N).

(Reporting by Michael Flaherty, Editing by Ken Wills)

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