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According to an official statement, passenger vehicle manufacturers will continue these savings for a one-year term.

Tata Motors recently become the first Indian company to rank among the top ten most valuable global automakers.

The agreement also covers the withdrawal of claims for the $90 million termination fee, damages, litigation costs, and other related expenses.

Its fleet includes more than 12,000 vehicles, ranging from economy to luxury cars, mini-vans, luxury coaches, specialty vehicles like luggage vans, limousines, vintage cars, and accessible vehicles for people with disabilities.

The IPO includes a fresh issue of 2.87 Crore shares worth ₹1,291.40 Crore and an offer for sale (OFS) of 3.42 Crore shares totaling ₹1,539 Crore.

GMR shares, which have outperformed with a 58% gain in the last year, were trading slightly higher at Rs 96 on the BSE.

Link Intime India Private is serving as the registrar for the IPO, while Equirus Capital and IIFL Capital Services are the book-running lead managers.

On another hand, the company logged a net profit of ₹23.9 Crore in the June quarter, down 52.2% from last year's ₹50 Crore.

On the Nifty, LTIMindtree, Divis Labs, Wipro, and IndusInd Bank led the gains, while Maruti Suzuki, Asian Paints, Adani Enterprises, and Nestle experienced losses.

Paytm shares jumped 2.5% on the BSE to a day high of Rs 559.65, while Zomato shares increased roughly 1% to Rs 257.80.