Tata Steel to raise INR 12,800 crore

Tata Steel has announced that the board has approved fund raising up to INR 12,800 crore through a mix of debt and equity, including a rights issue.

The board also approved a proposal to increase the capacity of Kalinganagar plant by 5 million tonne per annum (MTPA) to 8 MTPA with a total investment of INR 23,500 crore.

The board also reviewed financial strategy of the company.

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Yash Ved
Yash Ved is a Senior Correspondent at NewsBarons and comes with a decade of experience across leading online and offline publications. A keen observer of the stock index movement, Yash also likes covering Real Estate and the BFSI sector. A financial management and Journalism student, Yash believes learning as a continuous journey and enjoys following the IT and the Pharmaceutical industry and has penned many articles on the subjects.