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' acquisition of Iveco Group NV aims to create global synergy and establish a strong commercial vehicle entity.

Once completed, the acquisition will give Tata Motors access not only to new products, platforms, and manufacturing facilities but also to a well-established sales and after-sales network