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#1
15th November 2007, 12:16 PM
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Tata Steel CCPS
I am holding 10 shares of Tata Steels. As per announcement given below, I can get 9 CCPS. But at the time of its conversion to equity share, 6 CCPS are converted to 1 equity share. Then what about the other 3 CCPS that I will hold?
The Committee of Directors at its meeting held on Friday, 05th Oct. approved as under: a) Size of CCPS to be offered on Rights basis: The Company would issue CCPS of Rs. 5,481 crores in the ratio of 9:10 to the existing equity shareholders. b) Conversion price of CCPS into Equity Share: The six CCPS of the face value of Rs.100 each will be compulsorily and automatically converted into one Equity Share fully paid up of Rs.10 each at a premium of Rs. 590. 
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#2
23rd November 2007, 07:38 PM
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Re: Tata Steel CCPS
Could someone please demystify CCPS. Is it compulsory to apply for ccps along with right issue. If that is not the case, then one should not apply for it since market price would itself come around Rs 600 after the right issue and CCPS.
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