01-01-1970 12:00 AM | Source: Accord Fintech
Tata Steel inches up on raising Rs 2000 crore via NCDs
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Tata Steel is currently trading at Rs. 106.20, up by 0.35 points or 0.33% from its previous closing of Rs. 105.85 on the BSE.

The scrip opened at Rs. 105.85 and has touched a high and low of Rs. 107.20 and Rs. 105.70 respectively. So far 1140561 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 142.62 on 19-Oct-2021 and a 52 week low of Rs. 82.71 on 23-Jun-2022.

Last one week high and low of the scrip stood at Rs. 109.00  and Rs. 103.00 respectively. The current market cap of the company is Rs. 129384.45 crore.

The promoters holding in the company stood at 33.92%, while Institutions and Non-Institutions held 41.06% and 24.24% respectively.

Tata Steel has raised Rs 2000 crore by allotment of 20,000 - Fixed rate, Unsecured, Redeemable, Rated, Listed, Non-Convertible Debentures (NCDs) having face value Rs 10 lakh each, for cash to identified investors on private placement basis, on the terms and conditions as mentioned in the Placement Memorandum for the said Issue. The issue comprises of two series -- Series 1 Debenture: 5,000 NCDs amounting to Rs 500 crore with 7.50% p.a. fixed coupon rate and Series 2 Debenture: 15,000 NCDs amounting to Rs 1,500 crore with 7.76% p.a. fixed coupon rate. The NCDs are proposed to be listed on the Wholesale Debt Market (WDM) Segment of BSE.

Tata Steel, the flagship company of the Tata group, is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 company.