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Tata Sons plans debt raise to turbocharge transformation

India's largest business group looks to digital future but the past keeps nagging

Shareholders on September 14 are expected to approve raising up to $5.44 billion in new debt to help fund heavy investments in new businesses.   © Reuters

MUMBAI -- The shareholders of Tata Sons Private, the holding company of the Tata group of companies and India's largest business house by market capitalization, on Tuesday are expected to approve raising up to 400 billion rupees ($5.44 billion) in new debt to help fund heavy investments in new businesses.

The cash infusion comes with chairman Natarajan Chandrasekaran planning to foray deeper into e-commerce, set up a semiconductor plant and manufacture 5G network equipment for telecom companies, and with him working on a bid for India's soon-to-be privatized national carrier, Air India.

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