Acquires 7.40 cr NCRPS of TRF
Tata Steel has on 01 March 2023, acquired 7,40,00,000 - 12.17% (effective yield) Non-cumulative, Non-convertible, Non-participating, Redeemable Preference Shares (NCRPS) of face value Rs 10/- each of TRF, a listed associate company of Tata Steel, aggregating to Rs 74 crore (NCRPS Series - 2), on private placement basis.This capital infusion is to assist TRF in meeting its additional working capital requirements, repayment/prepayment of the whole or a part of the existing indebtedness of TRF (including to financial or operational creditors) and/or for other general corporate purposes.
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