Tata Steel Ltd.

Tata Steel is planning to raise $600 million in the current financial year (FY20) to fund the second phase of increasing production capacity at its Kalinganagar plant to 8 mtpa from 3 mtpa, and refinance old loans. The company has set a target of reducing gross debt by $1 billion in FY20. It has net debt of Rs 1 trillion, as of March 2019.

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.