Tata Steel plans Rs 6,500 cr share sale
The Indian Express — June 24, 2006

Tata Steel, which is planning Tata group's biggest ever investment of Rs 70,000 crore in three new steel mills, will be selling shares worth Rs 6,500 crore and increase the promoters stake to over 27 per cent. It is also planning to raise Rs 20,000 crore in debt. The company said it will be making a preferential allotment of shares to its promoter Tata Sons which will increase the latter's stake to 27.48 per cent in the company. The other Tata group companies will reduce their stake from 6.75 per cent to 6.12 per cent while rest of the shareholders will see their stake falling from 73.21 per cent to 66.4 per cent.