Mumbai: Tata Motors today (Sep 27, 2004) listed its securities on the New York Stock Exchange (NYSE) to become the country's first Indian engineering and motor entity to do so and the second Tata company after VSNL.

The listing comes exactly a week after Prime Minister Manmohan Singh addressed the American investors at NYSE.

The Tata Group company listed its depository shares on the NYSE through conversion of its existing global depository shares (GDSs) into American Depository Shares (ADSs).

Tata Motors chairman Ratan Tata rang the opening bell on the NYSE to mark the listing in the presence of senior company officials, the company said in a release in Mumbai today.

"It is a privilege for us to be listed on the NYSE and we hope it will provide our overseas investors with greater opportunities to enhance their interest in the company," Ratan Tata said while speaking on the occasion.

"We are confident that we will benefit from the capital market access that this listing provides, and from adoption of the comprehensive corporate governance standards," he added.

As on date, there are 2.31 crore ADSs, each representing one ordinary share and in aggregate represent 6.4 per cent of the paid up capital of the company.

The ADSs are fungible with ordinary shares upto current permissible limit of 15.1 per cent of the paid up capital.

The market capitalisation is around Rs 15,000 crore ($ 3.3 billion).