Tata Steel seeks shareholders' nod for hike in borrowing limit

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The current borrowing level for Tata Steel is Rs. 283bn, says report.

Tata Steel is planning to borrow up to Rs. 500bn in loans as the company is comfortable to raise funds for capacity expansion, according to reports. Reports stated that the board agreed to raise the borrowing limit from Rs. 400bn and has sought shareholders' permission in an extraordinary general meeting. The current borrowing level for Tata Steel is Rs. 283bn, says report. The company would require funds to finance general corporate requirements and invest in subsidiaries, company reportedly said

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