Tata Steel board to consider fund raising proposal this week

Tata Steel on Monday said its board will meet this week to consider a proposal for raising funds.

"A meeting of the Board of Directors of the company will be held on Thursday, April 20, 2017 inter-alia to consider a proposal for fund raising," the company said in a filing to the BSE.

Tata Steel stands among the top global steel companies with an annual crude steel capacity of 28 million tonnes and had a turnover of $ 17.69 billion in FY 2015-16.

It is the world's second-most geographically-diversified steel producer with operations in 26 countries and commercial presence in over 50 countries.