Tata Steel is seeking shareholders' approval to raise up to Rs 10,000 crore through sale of securities. The sale of securities could be in the form private offerings in domestic or international market or through an issuance of shares, bonds, debentures and warrants.
Shareholders' permission to issue securities in the international and domestic capital markets will allow the company the flexibility to tap into these pools opportunistically. The company also seeks to continuously optimise its borrowings by ensuring they are aligned in terms of quantum, risk, maturity and cost with its earnings profile.
Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 Company.
