Tata Steel announced that the company's board will consider and approve the issuance of unsecured non-convertible debentures on private placement basis on Monday, 20 February 2023.
The steel maker added that the amount to be raised will be within the limits approved by the board of directors of the company at its meetings held on 13 August 2018 and 4 April 2020.Tata Steel is among the most geographically diversified steel producers in the world and is one of the top global steel companies with an annual crude steel capacity of 34 million tonnes per annum and has operations and commercial presence across the world.
The company reported a consolidated net loss of Rs 2,502 crore in Q3 FY23 as against a net profit of Rs 9,598 crore in Q3 FY22. Total revenue from operations during the quarter amounted to Rs 57,084 crore, down 6% YoY.
The scrip rose 0.77% to Rs 111.20 on the BSE.
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