TRF has raises Rs 165 crore from Tata Steel. In this regards, the Committee of Directors, as authorized by the company's Board of Directors at its meeting held on June 8, 2022 approved the allotment of 16,50,00,000, 12.17% (effective yield) non-cumulative, non-convertible, non-participating, redeemable preference shares of face value Rs 10 each, at par, for consideration in the form of cash, aggregating to Rs 165 crore, (NCRPS Series-1) to Tata Steel, on private placement basis. The NCRPS will be unlisted.
TRF has been engaged in the business of designing & manufacturing of the Bulk material handling systems and equipments for core sector industries such as power, ports, steel, mining and cement for projects undertaken on Turnkey basis.
