Tata Steel gets approval to issue debentures of Rs 5,000 crore

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Tata Steel (Tata Steel) has got the approval of the director committee for issuing non-convertible debentures of up to Rs 5,000 crore.

On Tuesday, its Directors’ Committee approved the release of 40,000 debentures of Rs. 10 lakhs for a total of Rs. 4,000 crore, with which the green-shu option of debentures of Rs. 1,000 crore has been kept. 

The proposed debentures have been proposed to be listed on the wholesale loan market segment of BSE. These debentures, allotted on March 01, 2019, will be matched on 01 March, 2034. It is worth noting that India Ratings issued “INA AA” and Care “Care AA” rating on these non-convertible debentures.

Meanwhile, in the BSE, Tata Steel’s shares opened at Rs 506.00 with a slight increase compared to the previous closed level of Rs 504.15. During the business, it touched an upper level of Rs 511.95, which is the peak of its last one month. But after that there is a weakness in the company stock. Deals are being done at a price of Rs. 504.00 with a marginal weakness of 0.15 rupees or 0.03% in the company’s shares around 12.30 pm.

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