Tata Steel will be seeking shareholder’s nod for raising up to Rs 14,000 crore through privately placed debt securities in domestic as well as international markets. Besides, the company would also be seeking approval for hiking the company's borrowing limit from Rs 50,000 crore to Rs 70,000 crore or the aggregate of the paid up capital and free reserves of the company, whichever is higher.
The company’s committee of board of directors at its meeting held on June 17, Tuesday, approved various proposals including raising of funds and increasing the borrowing limit.
Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 Company.
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