MUMBAI, Dec 25: Tata Steel Ltd, the world’s seventh largest steel maker, plans to raise up to $1 billion in a share sale, the Business Standard newspaper reported on Saturday, citing two unnamed sources. A source close to the matter told the paper that the firm has mandated Standard Chartered Bank, HSBC Holdings, Deutsche Bank, RBS and Kotak Mahindra Capital to manage the share sale. The proceeds of the share sale will go towards funding the company’s expansion and paying off debt, the paper said.—Reuters