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

Tata Motors sets the stage for a major expansion in its global commercial vehicle market presence through the acquisition of Italy's Iveco Group for €3.8 billion, enhancing its operational capabilities and access to advanced technologies.