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The IPO consists of a fresh issue of ₹680 crore and an offer for sale (OFS) of up to 1.73 crore shares at a face value of ₹2 each.

Domestic car dispatch to dealers fell 3% to 49,013 units this month, from 50,701 units the previous year, according to the statement.

The country's largest automaker's April-June revenue increased 9.9% to ₹35,531.4 Crore from ₹32,326.7 Crore in the same period last year.

The company's revenue from operations decreased by 11.6% to ₹1,444.5 Crore, compared to ₹1,633.3 Crore in the previous year.

The EBITDA margin was 17.95% in the reporting quarter, compared to 18.2% in the same time the previous fiscal year.

EBITDA increased by 51.2% to ₹796.3 crore in the first quarter of this fiscal year, up from ₹526.7 crore in the same period last year.

The disclosure, released shortly before market hours began, caused the company's stock to rise by roughly 2% after the opening bell.

Tata Motors stated in a statement that total domestic sales fell 11 percent last month to 70,161 units, down from 78,844 units the previous year.

Domestic sales were down 9% to 12,926 units from 14,207 units in July 2023, according to Ashok Leyland.

Terrafirma Motors Corporation has established an assembly plant and parts warehouse in Laguna, Philippines.