General Announcement::Allotment of the Tranche II Investor Securities IN Tata Passenger Electric Mobility Limited

Issuer & Securities

Issuer/ Manager
TATA MOTORS LIMITED
Securities
TATA MOTORUS$300M5.875%N250520 - XS2079668609 - FGLB
TATA MOTORUS$500M4.625%N200430 - XS1121907676 - 19RB
TATA MOTORUS$250M5.75%N241030 - XS1121908211 - 19SB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
31-Jan-2023 21:53:43
Status
New
Announcement Sub Title
Allotment of the Tranche II Investor Securities IN Tata Passenger Electric Mobility Limited
Announcement Reference
SG230131OTHR510K
Submitted By (Co./ Ind. Name)
Tata Motors
Designation
Senior Manager
Effective Date and Time of the event
31/01/2023 17:00:00
Description (Please provide a detailed description of the event in the box below)
Pursuant to the provisions of Regulation 30 of the SEBI Listing Regulations and further reference to our letters bearing sc nos. 16533, 16598, 16717 dated October 12, 2021, December 22, 2021 and March 30, 2022, respectively, relating to the Securities Subscription Agreement dated October 12, 2021 (the SSA) executed by Tata Motors Limited (the Company) with TPG Rise Climate TopGun Pte. Ltd. (TPG), a private equity fund, for investment aggregating to Rs.75,00,00,00,000/- (the Transaction) and incorporation of a wholly owned subsidiary of the Company, viz., Tata Passenger Electric Mobility Limited (the Subsidiary), and acceded to by the Subsidiary pursuant to the deed of accession to the SSA dated January 21, 2022
(together with the SSA, the Agreement).

Further to the aforesaid disclosures, we hereby wish to inform you that pursuant to the Agreement, TPG has subscribed to 3,75,00,000 compulsorily convertible preference shares of the face value of Rs.1,000/- each in the Subsidiary (collectively, the Tranche II Investor Securities) on January 31, 2023, for an aggregate consideration of Rs.37,50,00,00,000/- as the second tranche of the Transaction. With the subscription of the Tranche II Investor Securities by TPG, the entire investment aggregating to Rs.75,00,00,00,000/- as contemplated to be invested by TPG under the Agreement, has been received by the Subsidiary.

Pursuant to the aforesaid, the allotment committee of the board of the Subsidiary has on January 31, 2023, accorded its approval for the allotment of the Tranche II Investor Securities to TPG as per the terms and conditions of the Transaction.

Please take note of the above, and bring the same to the notice of all concerned.

Attachments

NSEBSELETTERFINAL.pdf
Total size =626K