Tata Steel to issue rights shares

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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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