new delhi tata group flagship firm tata motors is planning to raise 500 million rs 2250 crore from international markets for expanding its passenger car and truck ventures in india as well as for partly funding acquisition of daewoos truck business in south koreafunds would be raised in one or more tranches tata motors finance director praveen kadle said the time and size of particular issues would be decided when the need arises this is an enabling resolution that was on monday cleared by the tata motors board of directors the official addedmeanwhile a company statement said the longterm funds are being raised to meet the capital and product development expenditure related to tata motors growth projections in its commercial vehicle business unit and passenger car business unit refinancing its recent acquisition of daewoo commercial vehicle company dcv in south korea and for other such corporate purposesfunds would also be used to fund any future acquisitions as they come along kadle saidtata motors had in february signed an investment agreement to buy daewoo commercial vehicle the truckmaking arm of bankrupt south korean chaebol daewoo motors for 102 million rs 465 crore of which 51 million is to be paid upfrontwe have already raised the resources for the payment these additional funds will be raised for later payments kadle saidthe daewoo acquisition is to be financed partly through tata motors buyout of equity in dcv for which tata motors is paying 51 million dcv which becomes a whollyowned arm of tata motors is to raise the balance 51 million by way of loans from south korean institutions