General Announcement::Reduction of capital by way of cancellation of the entire A Ordinary Shares

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
25-Jul-2023 20:57:14
Status
New
Announcement Sub Title
Reduction of capital by way of cancellation of the entire A Ordinary Shares
Announcement Reference
SG230725OTHRR6HR
Submitted By (Co./ Ind. Name)
Tata Motors Limited
Designation
Senior Manager
Effective Date and Time of the event
25/07/2023 17:00:00
Description (Please provide a detailed description of the event in the box below)
In terms of Regulation 30 and Regulation 51 read with Schedule III of the SEBI Listing Regulations, we hereby inform you that the Board of Directors (Board) of Tata Motors Limited (the Company) at its Meeting held today, i.e., on July 25, 2023, based on the recommendations of the Audit Committee and Committee of Independent Directors, approved a Scheme of Arrangement amongst the Company and its shareholders and creditors, under Section 230-232 of the Companies Act, 2013 (the Act) and other applicable provisions of the Act and Rules framed thereunder, inter alia, for reduction of capital of the Company by way of cancellation of the entire A Ordinary Shares of the Company and issuance and allotment of the Ordinary Shares, which would rank pari passu with the existing Ordinary Shares in the Company, as consideration for such reduction of capital (Scheme), subject to obtaining of all regulatory approvals/permissions, as applicable in this regard. The Scheme is subject to necessary approvals including that from Securities & Exchange Board of India (SEBI), the shareholders and creditors of the Company and the Honble National Company Law Tribunal (NCLT).

The Company shall approach the NCLT for approval of the Scheme under Section 230-232 of the Act and other applicable provisions of the Act read with the SEBI Master Circular bearing no. SEBI/HO/CFD/PoD-2/P/CIR/2023/93 Master Circular on (i) Scheme of Arrangement by Listed Entities and (ii) Relaxation under Sub-rule (7) of rule 19 of the Securities Contracts (Regulation) Rules, 1957 dated June 20, 2023, and SEBI Operational circular no. SEBI/HO/DDHS/ DDHS_Div1/P/CIR/2022/0000000103 dated July 29, 2022, as amended from time to time and any other applicable SEBI Circulars (collectively the SEBI Scheme Circulars ).

The details required to be disclosed under Regulation 30 and Regulation 51 of the SEBI Listing Regulations including all circulars and notifications issued thereunder, as amended from time to time read with the SEBI Master Circular bearing no. SEBI/HO/CFD/PoD2/CIR/P/2023/120 Master circular for compliance with the provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 by listed entities dated July 11, 2023 and the SEBI circular bearing no. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 Disclosure of material events / information by listed entities under Regulations 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 dated July 13, 2023, are enclosed herewith as Annexure A to this intimation. Also attached is the press release on the said matter as Annexure B.

Attachments

Melody.pdf
Total size =655K