Tata Steel on Tuesday said a board committee has approved raising of up to Rs 2,700 crore through debentures. “The Committee of Directors (constituted by the Board of Directors of Tata Steel Ltd), at its meeting held today i.e., March 19, 2024, considered and approved the issue of NCDs,” the steel major said in a regulatory filing.
The date of allotment of non-convertible debentures (NCDs) is March 27 and its maturity date is March 26, 2027.
Tata Steel group is among the top global steel companies with an annual crude steel capacity of 35 million tonnes per annum.
Shares of the company declined 0.64 per cent to Rs 148.65 apiece on the BSE.