Tata Group is one the largest business group in India. It has steel assets in India as well abroad. These include Crocus which was bought by Tata last year for 6.7 billion pounds, steel operations in Thailand and Singapore. It is now looking to spin off its international assets in an overseas listing to raise money for the steel unit’s expansion.
Various ways for raising capital are being considered and a listing of overseas steel assets is one such thing. The unit would be used to buy overseas steel plants and mines in order to guarantee constant supply for raw materials at cheap rates. Tata Steel has had some problems in iron ore supplies for its steel plant which forced it to buy in the market at higher rates. It is said that the company wants to improve this situation by purchasing mines in Asia and Africa.
Tata Group is one the largest business group in India. It has steel assets in India as well abroad. These include Crocus which was bought by Tata last year for 6.7 billion pounds, steel operations in Thailand and Singapore. It is now looking to spin off its international assets in an overseas listing to raise money for the steel unit’s expansion.
Various ways for raising capital are being considered and a listing of overseas steel assets is one such thing. The unit would be used to buy overseas steel plants and mines in order to guarantee constant supply for raw materials at cheap rates. Tata Steel has had some problems in iron ore supplies for its steel plant which forced it to buy in the market at higher rates. It is said that the company wants to improve this situation by purchasing mines in Asia and Africa.
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