Tata Steel Advanced Materials Limited announced that it issued 15,612,802 equity shares at a price of INR 12.81 per share for gross proceeds of INR 199,999,993.62 on October 28, 2022. The transaction included participation from returning investor Tata Steel Limited, which will retain its existing stake of 100%. The shares have a face value of INR 10 per share issued at a premium of INR 2.81 per share.

The company has issued shares on preferential basis.