TATA STEEL Rights : TATA Steel Rights Issue Opens Nov 22
TATA STEEL Rights : TATA Steel Rights Issue Opens Nov 22
Tata Steel Ltd will raise Rs 9135 cr ($2.3 billion) from a rights issue of equity shares and convertible preference shares, a newspaper advertisement showed on Thursday. The issue, a part of the financing for the takeover of Corus Group, comprises 121.79 million equity shares issued in the ratio of one for every five, and 548 million convertible preference shares in the ratio of nine for every 10 equity shares held.
TATA Steel Rights Issue : Record Date - 5 Nov 2007
Will post more details about TATA Steel Rights issue like Applications forms , Allotment Status and Listing Date once information is available.
The equity shares are priced at Rs 300 each and the convertible preference shares at 100 rupees each. The issue opens on Nov 22 and close on Dec 21, the advertisement showed.
JM Financial, Citigroup and DSP Merrill Lynch are the lead managers to the issue.
