Tata Steel Limited approves allotment of 4000 NCDs

The Committee of Directors of Tata Steel Limited has today approved allotment of 4,000 - 8.08% p.a Unsecured, Rated, Listed, Redeemable, Floating Coupon, Non-Convertible Debentures of face value Rs. 10,00,000/- each, for cash aggregating to Rs. 400 crore, to identified investors on private placement basis, on the terms and conditions as mentioned in the Information Memorandum for the said Issue.

The NCDs are proposed to be listed on the Wholesale Debt Market (WDM) Segment of BSE Limited.

Shares of TATA STEEL LTD. was last trading in BSE at Rs.319.3 as compared to the previous close of Rs. 315.05. The total number of shares traded during the day was 992819 in over 11199 trades.

The stock hit an intraday high of Rs. 323.2 and intraday low of 314.7. The net turnover during the day was Rs. 317082786.

Source : Equity Bulls

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