Tata Trent likely to raise Rs 300 crore

MUMBAI: Tata Group firm Trent plans to raise about Rs300 crore by issuing of non-convertible debentures (NCDs) on private placement basis and has also approved stock-split to improve liquidity of the company's share.

Trent's stock rose 5.38 per cent to close at Rs1768.10 a piece on the Bombay Stock Exchange on Tuesday when the benchmark index Sensex gained 0.46 per cent.

"The board of Directors has approved the sub-division of equity shares of the company having a face value of Rs 10 per share into equity shares having a face value of Rs 1 each. The issue of NCDs is also subject to the approval of shareholders," it said in a statement to the BSE.

Apart from operating department chain Westside, Trent has partnered Tesco for supermarket format 'Star Bazaar' and Spanish company Inditex for Zara stores in India.