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TRF on Wednesday approved the allotment of 25 crore 12.5 per cent NCRPS of face value ₹10 each at par aggregating to ₹250 crore to Tata Steel on private placement basis. While the tenure of the instrument would not exceed 20 years, the date of allotment will be decided after receiving shareholders’ approval, it said in a notice to the bourses. Shares of TRF closed at ₹104.70, up 5.44 per cent, on the BSE.
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