Tata Chemicals raises $ 100 mln via US private placements

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New Delhi, Sept 18 (UNI) Tata Chemicals Ltd today said it had raised 100 million dollars in debt via US private placements to fund its acquistions.

''We have raised 100 million dollars recently from a cluster of US investors 3-4 days before Reserve Bank of India (RBI) came out with a cap on external commercial borrowings (ECB) cap,'' company's Executive Vice President R Mukundan told reporters here.

The proceeds of the fund will be used both for organic and inorganic acquisition in India and overseas, Mr Mukundan added.

Deliberating on impact of rupee appreciation, he said, ''It has impacted exports while imports are competetive''.

Margins are always under pressure, Mr Mukundan said adding that all possible steps are being taken to keep a check on it.

Meanwhile, Tata Salt today reiterated its commitment to support underprivileged children across the country wioth their 'Desh Ko Arpan' programme.

The programme contributes 10 paise for every kilo of Tata salt across the country during the months of January and August to a social cause and will extend educational support to 1,500 underprivileged girl children, who are part of the Nanhi Kali project, jointly managed by K C Mahindra Education Trust and Naandi Foundation.

Tata Chemicals, country's leading manufacturer of food additives, fertilisers and inorganic chemicals owns and operates the largest integrated inorganic chemicals complex at Mithapur in Gujarat.

UNI

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