Ltd raised $100 million (over Rs 400 crore) through private placement in the US
in August, a few days before the Reserve Bank of India tightened rules on overseas
just finished our programme of funding," R Mukundan, executive vice president
- chemicals, said.
actually raised it just before the caps were put in place. So, for us, it had
no impact at all," Mukundan said.
RBI had tightened rules on foreign borrowing by local firms on August 7, a move
analysts had said would raise borrowing costs for the corporates by 1 to 2 percentage
private placement was led by the Bank of America, and the proceeds would be used
for purposes including acquisitions, Mukundan said. He, however, did not rule
out the possibility of the company requiring further funding.
Tata Salt has reiterated its commitment to support underprivileged children across
the country with their ''Desh Ko Arpan'' programme.
programme contributes 10 paise for every kilo of Tata salt across the country
during the months of January and August to a social cause and will extend educational
support to 1,500 underprivileged girl children, who are part of the Nanhi Kali
project, jointly managed by K C Mahindra Education Trust and Naandi Foundation.
Chemicals, country''s leading manufacturer of food additives, fertilisers and inorganic
chemicals owns and operates the largest integrated inorganic chemicals complex
at Mithapur in Gujarat.
company is also in the process of setting up 30 outlets for its farm produce range
branded as Total Produce, a joint venture with an Irish firm.