Tata Steel has received approval to raise funds through issuance of Unsecured, Redeemable, Rated, Listed, Non-Convertible Debentures (NCDs) on Private Placement to all eligible investors. The issue will be of 40,000 NCDs of face value Rs 10 lakh each aggregating to Rs 4,000 crore plus a green shoe option of up to Rs 1,000 crore. The instrument will be listed at BSE (Wholesale Debt Market Segment).
The Committee of Directors of the Company at its meeting held on February 26, 2019 has approved the same.
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.
