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The committee of directors of Tata Steel BSL has approved allotment of 650 crore, 11.09 per cent non-convertible redeemable preference shares of face value ₹10 each for cash aggregating to ₹6,500 crore to Tata Steel (NCRPS Series I) on private placement basis.
Shares of Tata Steel BSL closed 0.68 per cent higher at ₹29.80 on the BSE, while those of Tata Steel slipped 2.4 per cent at ₹513.55 on the BSE.
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