Trent to raise Rs 500 crore

Trent Ltd, a retail chain of the Tata Group, is to raise Rs 500 crore through a rights issue. The committee of the board of directors of the company has proposed to issue convertible preference shares to the shareholders. However, the company has not disclosed the purpose of the issue. Shares of Trent Ltd were trading at Rs 810 on BSE, up 0.82 per cent from the previous close.