Tata Steel raises US$ 875 Million through Foreign Currency Convertible Alternative Reference Securities

Tata Steel Ltd has announced that "Further to the announcement on August 06, 2007, the Company on August 07, 2007 announced that the Greenshoe Option of USD 150 million was exercised. Consequently, the total size of the Foreign Currency Convertible Alternative Reference Securities Offering will increase from USD 725 million to USD 875 Million."

The stock was trading at Rs.651.10, up by Rs.1.15 or 0.18%. The stock hit an intraday high of Rs.660 and low of Rs.650.15. The total traded quantity was 314721 compared to 2 week average of 812053.

Source : Equity Bulls

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