Tata Consumer Products plans to raise up to 65 billion rupees (about $782 million) through the issuance of commercial papers and a rights issue of shares. Of the total, 35 billion rupees will be raised via commercial papers to fund part of its acquisitions of packaged food brands Capital Foods and Organic India. The remaining 30 billion rupees from the rights issue were not specified in terms of utilization. Last week, Tata Consumer announced its plans to acquire a 75% stake in Capital Foods for 51 billion rupees and fully acquire Organic India for 19 billion rupees.
Tata Consumer to Raise $782 Million via Commercial Papers and Rights Issue
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