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Financing Strategy at Tata Steel

Author

Listed:
  • Rajesh Haldipur

    (Mumbai, India)

  • Kulbir Singh

    (Institute of Management Technology, Nagpur, India)

  • S. R. Vishwanath

    (Shiv Nadar University, Uttar Pradesh, India)

Abstract

In January 2011 Tata Steel Ltd, a world-size steel company in India and a flagship company of the $80b Tata Group, announced an issue of equity to the investing public through a book-building process. This was one of the many securities that the company issued during 2007–2011. The company would raise Rs 34,770m and Rs 33,850m from the issue at the upper and lower ends of the price band. The case opens with an analyst studying the company's financial condition with the objective of making an investment recommendation.Students are asked to evaluate the attractiveness of the offer and its timing apart from undertaking an analysis of the historical choice of securities. The case can be used to teach students capital structure theories, the thought process behind security issuance, the dynamic nature of finance, and the role of a CFO and valuation analysis.

Suggested Citation

  • Rajesh Haldipur & Kulbir Singh & S. R. Vishwanath, 2015. "Financing Strategy at Tata Steel," Asian Case Research Journal (ACRJ), World Scientific Publishing Co. Pte. Ltd., vol. 19(02), pages 259-289, December.
    • Handle: RePEc:wsi:acrjxx:v:19:y:2015:i:02:n:s0218927515500108
    DOI: 10.1142/S0218927515500108
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