New Delhi, Jan. 19 -- Tata Consumer Products on January 19 informed the exchanges that the company's board has in a meeting today approved a fundraising proposal of Rs.3,500 crore to be used for the acquisition of stakes in Capital Foods Private Limited and Organic India Private Limited.

The funds will be raised through the issuance and allotment of Commercial Papers, it added.

Further, raising of funds by way of issue of equity shares of face value Rs.1 each will not exceed Rs.3,000 crore. The date is yet to be determined and is subject to approvals from the Securities and Exchange Board of India (SEBI).

"For the purposes of giving effect to the rights issue, the detailed terms to the rights issue including but not limited to the issu...