The board of Tata Motors will consider a proposal to raise funds at its meeting next week, Tata Motors said in a regulatory filing to the stock exchanges, without revealing any details about the quantum of funds. The board meeting is scheduled to be held on May 18 to approve the financial results for the quarter and financial year ended March 31, 2021.

“The board in the said meeting would also consider a proposal for raising funds by way of issue of one or more instruments including convertible securities of any description or debt securities, through preferential issue, private placements, rights issue or any other methods or combination thereof in the domestic and/or international markets,” Tata Motors said.

At 3:10 pm, the Tata Motors shares were trading at ₹ 312.35, lower by 4.17 per cent on the BSE. The BSE Sensex and NSE Nifty were rading absolutely flat at the time.