Tata Motors to bag Jaguar, Land Rover by early March

While most of the money raised will be used to fund the purchase of Jaguar and Land Rover from Ford, the remaining funds may be used to finance capital expenditure of Jaguar and Land Rover following the acquisition, and also on the production of Nano, the world's cheapest car, which Tata Motors plans to commercially launch in October.

Tata Motors, India's third largest maker of passenger vehicles and largest maker of commercial vehicles, is a part of India's most respected business conglomerate, the Tata Group, which has business interests that include steel, automotive, technology, consumer products, energy, hospitality and beverages.

The Tata Group reported revenues in 2006-07 of $28.8 billion, about 3.2 percent of the country's GDP, and a market capitalization of $66 billion. The group has 27 publicly listed enterprises and operates in more than 80 countries across six continents, employing over 300,000 people.