Tata Steel approves debt securities, General Atlantic to sell stake, IRB Infrastructure block deal, Ramco Systems partnership, Brewers' Association of India, insolvency plea against SpiceJet, S&P Ratings outlook revised, RBI restrictions on Edelweiss, Nalanda Capital divests stake in GE Shipping.
Tata Steel Investment: Tata Steel raising INR 3,000 crore through NCDs, investing £1.25 billion in Port Talbot plant to build EAF and shutting down two blast furnaces.
Additionally, Tata Steel announced that it will convert debt instruments valued at $565 million (Rs 4,661 crore) held in its Singapore subsidiary into equity shares. Both the capital infusion and the debt-to-equity conversion are planned to be completed within this fiscal year.