Tata Motors' record $4.5 billion offer to buy Iveco's trucks and bus business will expand the commercial vehicle maker's revenues beyond India and give it access to the Italian company's future technologies including electrification.

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 on Thursday announced it will raise around €1 billion (approximately $1.14 billion or Rs.10,000 crore) in equity to help repay the loan backing its €3.8 billion (Rs.38,000 crore) acquisition of multinational transport vehicle manufacturing company Iveco's trucks and bus business,