Tata Steel raises Rs. 41bn via sale of non-core assets

During an investor call in August, Tata Steel’s Group Executive Director (Finance and Corporate) Koushik Chatterjee said that the company in the last 5-6 years had raised ~INR 15,000 crore through the monetisation of strategic, non-core and listed assets.

Tata Steel has raised more than INR 4,100 crore through the sale of non-core assets so far in FY16 as part of efforts to cut its debt burden.

Last week, it sold 1.33 per cent stake in Tata Motors to institutional investors for INR 1,250.69 crore. It also sold a similar stake in Tata Motors to Tata Sons for INR 1,249.99 crore as part of portfolio restructuring.

This is over and above the INR 1,000 crore that it raised in the April-June quarter through equity liquidation and INR 637.46 crore in August by selling stake in Titan.

In all, Tata Steel has raised around INR 4,138.01 crore since April.

During an investor call in August, Tata Steel’s Group Executive Director (Finance and Corporate) Koushik Chatterjee said that the company in the last 5-6 years had raised ~INR 15,000 crore through the monetisation of strategic, non-core and listed assets.