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World's seventh largest steel maker Tata Steel's follow-on public offer (FPO) has opened for subscription today. It has fixed price band of Rs 594-610 a share for its FPO of 5.7 crore ordinary equity shares of Rs 10 each.
The company aims to raise Rs 3385.8-3477 crore through the issue, which will close on January 21.
Experts are divided on the issue. Deven Choksey of KR Choksey and Manish Bhatt of Prabhudas Lilladher are positive on it while Investment Advisor, SP Tulsian has given a thumps down to the same.
"We are not excited by this Tata Group company
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