Tata Motors, India's largest automobile company, witnessed a sharp rise in share price on Friday after it announced the closing of its Rs 75 billion rights issue offer period on May 2, 2015.

The share issue was oversubscribed by 1.21 times and Tata Motors collected an amount of Rs 90.40 billion on applications. Ordinary shares were oversubscribed by 1.17 times, with an amount of Rs 79.56 billion collected on applications and 'A' ordinary shares were oversubscribed by 1.51 times, with an amount of Rs 10.83 billion collected on applications.

Shares of the company are trading at Rs 509.70, up Rs 21.5, or 4.40% at the Bombay Stock Exchange (BSE) on Friday at 11:24 a.m.

The scrip has touched an intra-day high of Rs 509.90 and low of Rs 497. The total volume of shares traded at the BSE is 153,104.