Tata Motors, the largest commercial vehicle maker of the country, has raised about Rs 3,600 crore through global depository issues (GDRs) and convertible bonds. The proceeds would be used to pay debts it had taken to finance the acquisition of UK's iconic brands Jaguar and Land Rover.

Tata Motors CFO, CR Ramakrishnan said: "The offering will augment our long-term resources, help us de-leverage and provide us with financial flexibility to pursue our strategic goals."

The company had arranged a bridge loan of $3 billion in 2008 for financing the acquisition of popular vehicle brands. A portion of the loan had been re-paid by selling stakes and debt issue some time back.

The company issued GDRs and convertible bonds worth $375 million each, and the size of the offering was raised by 25 percent after getting overwhelming response from the investors.

The firm said in a statement: "The offering was successfully executed against the backdrop of volatile equity market conditions with strong investor interest resulting in the book being closed in less than an hour after launch, generating a demand of $1.25 billion from 40 investors. These GDS and notes would be listed on the Luxembourg Stock Exchange."

Shares of Tata Motors declined 7 per cent to Rs 548.30 on Friday at the Bombay Stock Exchange.