Tata Steel BSL has raised funds aggregating to Rs 6,700 crore through allotment of 670,00,00,000 - 8.89% Optionally Convertible Redeemable Preference Shares having face value of Rs 10 each to Tata Steel (OCRPS Series I) on private placement basis. The Committee of Directors of the Company at its meeting held on March 22, 2019 has approved the same.
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.
