Tata Motors to sell its defense and aerospace portfolio to Tata Advanced Systems Limited to unlock their full potential

Tata Motors Ltd (TML), announced that its Board has approved, subject to the requisite regulatory and other approvals, the following: The sale of its defense business to Group entity Tata Advanced Systems Limited (TASL). This will not include the pure civilian vehicles which will continue to be with TML. TML will receive an upfront consideration of Rs 100 Crs, adjusted for capex incurred and changes in working capital in the intervening period until closure date, and a deferred consideration of 3% of the revenue generated from identified Specialized Defence Projects for upto 15 years from FY20 subject to a maximum of Rs 1750 Crs.

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