Tata Steel raises Rs 5 bn from anchor investors

Tata Steel said it had raised 5.08 billion rupees (USD 111.8 million) from 33 anchor investors, exchange data showed ahead of a public offer that opens on Wednesday.

Mumbai: Tata Steel said it had raised 5.08 billion rupees
(USD 111.8 million) from 33 anchor investors, exchange data showed ahead of a
public offer that opens on Wednesday.

Tata Steel issued 8.325 million shares at 610 rupees each,
the data issued late on Tuesday showed.

The world's seventh largest steel maker is in the market to
raise a maximum of 34.77 billion rupees in its follow-on public share sale.

RBS, HSBC, SBI Capital, Citigroup, Deutsche Bank, Standard
Chartered and Kotak Mahindra are the managers to the offering.

Bureau Report

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