Tata Steel Fixe FPO Price At Rs 610

Country biggest steel producer Tata Steel has set a price at higher-end of price_band of Rs 594 to 610 a stock for its 5.7 cr equity stocks’ FPO.

The firm increased approximately Rs 3,477 cr (USD 766 million) via this IPO issue, that was subscribed 6.03 times.

QII led the main assistance to the issue – Tata Steel plans to utilize issue cash for partly funding the company’s stock of capital costs for expansion of current works at Jamshedpur; and payment of payoff amounts on maturity of some redeemable non convertible debentures granted by the firm on a private placement basis.

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