Tata Sponge Iron has received approval for issuance of 3.30 crore equity shares of face value of Rs 10 each, on a rights basis, not exceeding an amount of Rs 1,650 crore, in ratio of 15:7 i.e. 15 equity shares for every 7 equity shares held by eligible equity shareholders of the company as on the record i.e. June 25, 2019. The Board of Directors of the Company at its meeting held on June 13, 2019 has approved the same.
Tata Sponge Iron is engaged in business of manufacturing high-grade sponge iron that is consistent quality. The company also in the business segment of Power, Sponge Iron.
