New Delhi -°C
Today in New Delhi, India

Aug 21, 2019-Wednesday
-°C

Humidity
-

Wind
-

Select city

Metro cities - Delhi, Mumbai, Chennai, Kolkata

Other cities - Noida, Gurgaon, Bengaluru, Hyderabad, Bhopal , Chandigarh , Dehradun, Indore, Jaipur, Lucknow, Patna, Ranchi

Thursday, Aug 22, 2019

Tata Steel board approves plans to raise up to Rs 5000 crore

The committee of directors approved issuance of “40,000 NCDs of face value Rs 10,00,000 each aggregating to Rs 4,000 crore plus a greenshoe option of up to Rs 1,000 crore,” the company said.

business Updated: Feb 26, 2019 20:26 IST
Press Trust of India
Press Trust of India
New Delhi
Shares of the company on Tuesday ended 0.14 per cent down at Rs 504.15 apiece on BSE.
Shares of the company on Tuesday ended 0.14 per cent down at Rs 504.15 apiece on BSE.
         

Tata Steel Tuesday said its board has approved plans to raise Rs 4,000 crore through issuance of non-convertible debentures on a private placement basis.

In addition, the company’s board also approved a greenshoe option of Rs 1,000 crore, the company said in a regulatory filing.

The committee of directors approved issuance of “40,000 NCDs of face value Rs 10,00,000 each aggregating to Rs 4,000 crore plus a greenshoe option of up to Rs 1,000 crore,” the company said.

The securities would be “unsecured, redeemable, rated, listed, non convertible debentures (NCDs)” to be issued on a private placement basis, it said. The date of allotment has been fixed as March 1, 2019, while the date of maturity would be March 1, 2034, it said.

Shares of the company today ended 0.14 per cent down at Rs 504.15 apiece on BSE.

Tata Steel is among the top global steel companies with an annual crude steel capacity of 33 million tonnes per annum (MTPA). It is one of the world’s most geographically-diversified steel producers.

First Published: Feb 26, 2019 20:25 IST

more from business