Steel major Tata Steel said its rights issue worth ₹12,800 crore will open on February 14 and close on February 28.
The executive committee of the board of Tata Steel, at its meeting, approved “simultaneous but unlinked issues” of ordinary shares having face value of ₹10 each.
The issue will comprise “up to 15.53 crore fully paid up ordinary share not exceeding ₹8,000 crore” and “7.76 crore fully paid up ordinary share not exceeding ₹4,800 crore.”
Letter of offer
The letter of offer will be filed with BSE and NSE, and will be submitted to the market regulator SEBI, the company informed.
On December 19, the board approved raising ₹12,800 crore via rights issue to finance organic and inorganic growth plans.
