Tata Steel To Issue GDR Of Equity Share - July 21, 2009

The committee of Tata Steel has approved the launch of a GDR issuance. The company has priced an equity share offering in the form of Global Depository Receipts (GDRs) for a gross amount of US$ 500 million. The company will be issuing 65,410,589 GDRs, each GDR representing one ordinary equity share. This was approved at the committee meeting held on 20 July 2009.