Tata Steel raises $500 million

London Stock Exchange today welcomed Tata Steel, one of the world’s leading steel companies. On admission the firm raised $500 million, the largest ever Indian Global Depository Receipt (GDR) offering in London, and one of the biggest new equity issues to be conducted by a company outside its home market on any global exchange in the last 12 months.

Commenting on the equity raising, Mr B Muthuraman, Managing Director of Tata Steel, said:

"The equity raising exercise and the listing on the London Stock Exchange marks a significant milestone in the company's capital raising journey and demonstrates investors’ interest in the Company's strategic direction.”

Xavier Rolet, Chief Executive, London Stock Exchange Group, said:

“As a globally ambitious Indian company, with significant operations in Europe, Tata Steel is a high profile addition to our markets. Tata Steel’s listing demonstrates that London remains the market of choice for companies from across the globe seeking to access a truly global pool of international investment capital and benefit from trading on the International Order Book, the world’s most liquid trading platform for GDRs”.

With the arrival of Tata Steel, there are now 52 Indian companies quoted on the London Stock Exchange’s markets, comprising 19 listed on the PSM, 11 listed on the Main Market, and 22 quoted on AIM. A further 10 Indian companies are listed on other exchanges but are Admitted to Trading on the London Stock Exchange’s International Order Book.

With over 100 years of experience in steel making, Tata Steel is one of the world's top ten steel companies with an existing annual crude steel production capacity of 30 Million Tonnes Per Annum (MTPA). A truly international company, Tata Steel has a presence in over 50 developed European and fast growing Asian markets, with manufacturing units in 26 countries. The company’s European manufacturing and marketing network in Europe, spanning the UK, the Netherlands, Germany, France and Belgium, manufactured over 20 MTPA of steel in 2008.




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