TRF Limited announced a private placement to issue 25,000,000 11 25% non-cumulative, non-participating, redeemable preference shares at an issue price of INR 10 per share for the gross proceeds of INR 250,000,000 on October 27, 2023. The transaction will include participation from returning investor Tata Ste. el Limited.

The transaction has been approved by shareholders of company and is subject to general shareholders.