Tata Steel’s rights issue worth Rs.12,800 crore will open on February 14 and close on February 28.

The executive committee of the Tata Steel board in its meeting, has given approval to simultaneous but unlinked issues of ordinary shares of face value of Rs.10 each.

The issue will consist of up to 15.53 crore fully paid up ordinary share not exceeding Rs.8,000 crore and 7.76 crore fully paid up ordinary share not exceeding Rs.4,800 crore.

Further, the company stated, “The Board approved issuance of equity and equity linked instruments, including ordinary shares of the company by way of a rights issue to existing shareholders on record date for an amount not exceeding Rs.12,800 crore.”

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