Tata Steel BSL raises Rs 6,500 crore via preference shares

Tata Steel BSL has raised amount aggregating to Rs 6,500 crore through allotment of 650,00,00,000 – 11.09% Non-Convertible Redeemable Preference Shares having face value of Rs 10 each to Tata Steel (NCRPS Series I) on private placement basis. The Committee of Directors of the Company at its meeting held on March 19, 2019 has approved the same.

Tata Steel BSL formerly known as Bhushan Steel is the largest manufacturer of auto-grade steel in India. Tata Steel BSL with a large amount of debt in proportion to its equity, is a highly leveraged company.

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