India's Tata Steel won the price battle to take over Corus at a cost of US$12.9 billion.

The company has approved the plan to raise US$4.1 billion, including a right issue, to ease the financial burden.

For Corus buy, Tata Steel has prepared an equity of US$4.1 billion and US$6.14 billion of long-term banks’ debts.

The balance US$2.66 billion is through financial bridge. Now Tata Steel would issue a right share of Rs36.55 billion (US$877 million) and convertible preference shares of Rs43.5 billion rupees (US$1,044 million).

Tata Steel also used internal funds and foreign borrowings and other ways to complete its financial plan of raising US$4.1 billion funds.