Tata Steel to raise INR 12,800 crore

Tata Steel has announced that the board has approved fund raising up to INR 12,800 crore through a mix of debt and equity, including a rights issue.

The board also approved a proposal to increase the capacity of Kalinganagar plant by 5 million tonne per annum (MTPA) to 8 MTPA with a total investment of INR 23,500 crore.

The board also reviewed financial strategy of the company.