On February 26, the Tata Steel has decided to raise ₹4000 crore via insurance.
The company board also approved a greenshoe option of ₹1000 crore.
The shares of the Tata Steel has sunk to ₹504.15 each on BSE.
On February 26, the Tata Steel has decided to raise ₹4000 crore via insurance of NCD ( Non- Convertible Debentures) on basing of the private placement.
The company board also approved a greenshoe option of ₹1000 crore.
The Tata Steel board of directors has approved a ₹40,000 NCDs on the face value of ₹10,00,000. A total of ₹4000 crore plus ₹1000crore of greenshoe option.
The Securities that will be issued on a private placement basis will be insecure, easily redeemable, rated, listed and NCD.
March 1, 2019, is fixed as the date of allotment and March 1, 2034, will be its maturity date.
The shares of the Tata Steel has sunk to ₹504.15 each on BSE. Tata Steel is one of the tops geographically diverse steel producer and supplies 33 million crude steel per annum.
