Tata Steel Mulls Fund Raising By Issuing Securities

Tata Steel on Wednesday said its board will meet next week to consider raising of funds by issuing securities. A meeting of the company's board will be held on 18-19 December to consider a proposal to raise funds by issue shares or securities, Tata Steel said in a regulatory filing.

The board will consider raising of funds via qualified institutions placement, rights issue, preferential issue or through any other permissible mode, it added.

"The proposal for the issue will be considered by the board on 19 December," it said.