InvestorQ : Why is Tata Steel proposing to raise Rs.5000 crore through debt issues?
Angel dcosta made post

Why is Tata Steel proposing to raise Rs.5000 crore through debt issues?

Answer
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Anamika Sodhani answered.
5 months ago


Tata Steel confirmed that its board had approved the proposal to raise up to Rs.5,000 crore through issuance of non convertible debentures (NCDs). These NCDs are proposed to be issued on a private placement basis. The idea is to use the funds to repay debt and for other general corporate purposes. The funds will be raised in one or more tranches depending on the market conditions and appetite for paper. The Committee of directors will take a final view on the quantum, the time table, timing of the issue and other terms and conditions of the issue.