Tata Steel, HDFC prepare for chunky equity raises

By John Loh
04 Jan 2018

Tata Steel has mandated a clutch of firms to underwrite its Rp128bn ($2bn) rights offering, part of a wider fundraising by the group across the capital markets.

The integrated steel producing arm of one of India’s largest conglomerates will work with Axis Capital, ICICI Securities, Kotak Mahindra Capital and SBI Capital Markets on the cash call, said a source close to the company.

Tata Steel intends to launch the deal to shareholders as early as ...

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