Tata Steel BSL’s board has approved an increase in the company's authorised share capital, and given nod for issuance of 11.09% shares to Tata Steel on a private placement basis. The members of the board passed a resolution for an increase in the authorised share capital of the company and consequential amendment of the capital clause in the memorandum of association of the firm.
Tata Steel BSL formerly known as Bhushan Steel is the largest manufacturer of auto-grade steel in India. Tata Steel BSL with a large amount of debt in proportion to its equity, is a highly leveraged company.
