Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
04 July, 2020 15:25 IST
Tata Steel to raise Rs 165 bn debt to fund Bhushan Steel acquisition
Source: IRIS | 23 May, 2018, 11.18AM
Comments  |  Post Comment

As per media reports, Tata Steel on Tuesday said it will raise Rs 165 billion through debt instruments to fund Rs 325 billion acquisition of Bhushan Steel.

The remaining amount will be raised through internal resources, it said. The media reports further stated that the banks are expected to take haircut of about 30-35% in the sale of to an arm of Tata Steel.

(Q,N,C,F)* align="justify">Tata Steel had won the bid to acquire debt-laden Bhushan Steel in an insolvency auction. The bankrupt firm was among the 12 stressed assets the RBI had referred for NCLT proceedings last year.

Shares of the company declined Rs 19.95, or 3.46%, to trade at Rs 557.25. The total volume of shares traded was 436,027 at the BSE (11.06 a.m., Wednesday).

Comments Post comment 
 Post Comment
Name Email
Security Code type    into this box
Company Update
test - 29-Jun-2020 20:26
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer