Tata Steel FPO : Planning an FPO soon

by khalid on 12/01/2011 · 0 comments

India’s largest steel company Tata Steel Limited is going to launch its follow-on public offer (FPO) soon. The board of directors of Tata Steel has approved a FPO of 5.7 crore shares of Rs 10.00 each. The company is likely to file draft red herring prospectus (DRHP) for FPO today and is likely to be a fast track FPO. At current market price the no.1 steel maker will raise Rs 3,750 crore via FPO. The promoter holding will come down by 2% after the FPO.

FPO opening dates are not known yet.

Share’s Data :-
BSE Code : 500470
Mkt. Cap: Rs 58,579.85 Crores
Tata Steel Ltd. share’s CMP is Rs 649.30 on 12th Jan 2010.

Stay tuned to BelltheBull Blog for more news on Tata Steel Limited !

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