MUMBAI: Tata Sons will raise about $1.8 billion in fresh loans to extinguish debt in a telecom entity as part of a broader exercise at India's largest conglomerate to be more focused on enhancing returns on invested capital.The Tata group holding company would launch a $1.5-billion overseas borrowing programme in February and the proceeds would be used to whittle down debt at Tata Teleservices . "Tata Sons has already approached individual banks to raise the money as it is in advanced talks. The primary objective is to invest in Tata Teleservices," said one of the persons cited above. Tata Sons needs to infuse additional equity to maintain its shareholding in Tata Steel at 31.35%. A Tata Group spokesperson declined to comment on the financing programme.

Source: Economic Times January 31, 2018 17:26 UTC