Tata Steel to issue rights shares
New
Delhi
Oct
12
2007:
India's
largest
private
sector
steel
producer
Tata
Steel
plans
to
raise
Rs.
9654
crore
by
way
of
rights
issue.
The
board
had
earlier
approved
the
issue
of
shares
on
a
rights
basis
to
the
existing
shareholders
of
the
company
through
two
simultaneous
but
unlinked
issues.
The Company will raise Rs 36.54 billion through issue of equity shares in the ratio of one for every five at a price of Rs 300 per share.
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Story first published: Friday, October 12, 2007, 19:38 [IST]