Tata Motors plans to raise about 1 billion euros ($1.14 billion) of equity to repay the loan funding its $4.5 billion offer to buy Iveco's trucks and bus business, the Indian automaker's chief financial officer said on Thursday.

Tata Motors is set to acquire Iveco Group. After the transaction, Iveco will retain its workforce as well as its headquarters in Turin, Italy

Post-Iveco acquisition, the combined entity will become the world’s 4th largest truck maker by volume, a report stated.