TATA STEEL SHARE ISSUE

The board of Tata Steel will discuss various fund raising options, including preference share issue and issue of perpetual bonds, to raise money for its Corus buy when the board meets shortly. Tata Steel has raised $8.8 billion in bridge loans, including $7 billion through its special purpose vehicle Tata Steel UK and $ 1.8 billion in its Singapore SPV. The promoters, which have 30.5% stake (as on March 31) in the company, is believed to be not keen on reducing its stake in the company.

Courtesy: EconomicTimes