With an aim to cut on the large debt pile of the company, the country’s largest home-grown automaker, Tata motors is believed to be looking for funding in order to cut its debt on the balance sheet.

Be it the way of raising equity or via the foreign currency convertible bonds (FCCBs), but the company is surely eying to make its debt equity ratio in a better position.

While the company has not yet confirmed the use of the end money, it recently said that its board will meet on Monday to consider raising long-term funds.

However, a source close to the development said that the company is eying to raise up to Rs 2,500 crore through global depository receipts (GDRs), FCCBs or share sale to qualified institutional buyers. Vaishali Jajoo, analyst at Mumbai-based Angel Broking said that the company is trying to get its debt to equity ratio in place which has in the recent past has moved up quite considerably.

It is to be mentioned here that the company raised $750 million by selling GDRs and convertible notes to repay debt taken to buy JLR last year.