New Delhi, Oct. 24 -- Tata Motors has clarified regarding speculations of increasing its offer price for the proposed acquisition of Italian commercial vehicle maker Iveco Group. The company is maintaining that its revised bid of €14.40 or Rs.1,531 per share is its "best and final" offer, reported Money Control.

Speaking to the media after the announcement of Tata Motors' September quarter results on October 23, MD and chief executive officer Girish Wagh said the company was confident that the offer would receive the required shareholder participation.

"We have put forward our best and final offer of €14.4 per share and have been encouraged by the positive and constructive engagement with key stakeholders," Wagh said, adding...