Tata Motor announces DVR-ordinary share swap

Tata Motors will soon issue ordinary shares in exchange for its DVR shares. For the uninitiated, DVR shares are shares that carry lower voting rights than ordinary shares. In simple terms, holders of DVR shares have a lesser say in decisions pertaining to company policies. In the case of Tata Motors, DVR shares carry one-tenth of the voting rights of ordinary shares. However, DVR shareholders are paid more dividends (higher by five percentage points). The swap ratio of this exchange is 7:10. This means for every ten DVR shares held, you will receive seven ordinary shares. Why Tata Motors issued DVR shares The compan