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Tata Steel BSL to allot shares worth Rs 2,300 cr to Tata Steel

Press Trust of India  |  New Delhi 

BSL Monday said its committee of directors has approved allotment of shares worth Rs 2,300 crore to on private placement basis.

"We wish to inform you that the committee of directors has today approved allotment of 230,00,00,000 - 8.89 per cent optionally convertible redeemable preference shares having face value of Rs 10 each for cash aggregating to Rs 2,300 crore to Limited (OCRPS Series II) on private placement basis," said in a BSE filing.

Tata Steel had won the bid to acquire debt-laden in an insolvency auction and later renamed the company as

Shares of ended 4.27 per cent down at Rs 28.05 apiece on BSE Monday.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, March 25 2019. 20:40 IST