Stock market today, Feb. 21 -- Steelmaker Tata Steel's share price rebounded in trade on Friday, February 21 to trade 2.5% higher over its previous close following an update regarding its Rs.3,000 crore fundraising plan.

Tata Steel announced via an exchange filing today that its Committee of Directors have approved the allotment of 3,00,000 non-convertible debentures (NCDs), having a face value of Rs.1,00,000 each to identified investors on a private placement basis for a tenure of five years. The blue-chip company last week said it will raise Rs.3,000 crore on a private placement basis.

Furthermore, the coupon rate of the proposed NCDs was discovered at 7.65% on the basis of the multiple yield allotment method through the Electronic Bo...