Tata Motors’ Board today approved of a proposal to list, during the course of this financial year, the company’s outstanding Global Depositary Receipts (GDRs) on the New York Stock Exchange (NYSE) in the form of American Depositary Receipts (ADRs). The company is not issuing new shares or raising new capital as part of the NYSE listing.

Tata Motors would be the first Indian company in the automobile and engineering sector to be listed on the NYSE.