Tata Motors Finance to merge with Tata Capital

Tata Motor Finance, a unit of publicly listed Tata Motors, is to be merged with Tata Capital through a share swap deal that will result in Tata Motors holding a 4.7% stake in the merged entity.For FY 24, Tata Motors Finance had reported a profit after tax of INR 52 crore.E&Y, ICICI Securities, Wadia Ghandy & Co are the transaction advisors to Tata Capital, while PwC, Axis Capital and AZB & Partners are the transaction advisors to Tata Motor Finance.