look news india
Tata Motors is planning to merge its vehicle finance subsidiary Tata Motors Finance with Tata Capital. The exercise aims to bring a large portion of the financial services operations under one company, while also reducing the automaker's balance sheet. This process will involve a share-swap agreement. Tata Sons, the group's holding company, will offer Tata Capital shares to Tata Motors. So India's third largest carmaker by volume will get a stake in Tata Capital. Tata Capital is a 95 percent owned subsidiary and parent finance company of Tata Sons. Its services include consumer, home, education, personal and car loans in addition to commercial finance. It also provides loans against assets, funding services, private equity. Along with this, it also works as distributor and marketing of Tata Card. Tata Motors Finance is valued at Rs 15,000 crore to Rs 20,000 crore.