Tata Steel looks to raise ₹3,000 crore from fresh bond issue after one-year hiatus: Report

Tata Steel Ltd. will tap into the corporate bond market after an almost year-long hiatus to raise ₹3,000 crore, news agency Reuters reported, citing unnamed sources. The issue will likely be completed before this month's end, and for this, the company is already in talks with merchant bankers and investors, according to the report.

It also offers a variety of tenors such as three-year, five-year, seven-year, or even 10-year ones, and would be finalising one or two of them, based on the levels that they get, the report read. This comes after India Ratings upgraded the company's bonds to the highest grade of AAA from AA previously. The last time Tata Steel tapped the bond market was in March 2024, when it raised ₹2,700 crore through three-year bonds with a coupon of 7.79%.