Mumbai: Tata Chemicals Ltd raised $100 million (over Rs 400 crore) through private placement in the US in August, a few days before the Reserve Bank of India tightened rules on overseas borrowing.

"We just finished our programme of funding," R Mukundan, executive vice president - chemicals, said.

"We actually raised it just before the caps were put in place. So, for us, it had no impact at all," Mukundan said.

The RBI had tightened rules on foreign borrowing by local firms on August 7, a move analysts had said would raise borrowing costs for the corporates by 1 to 2 percentage points.

The private placement was led by the Bank of America, and the proceeds would be used for purposes including acquisitions, Mukundan said. He, however, did not rule out the possibility of the company requiring further funding.

Meanwhile, Tata Salt has reiterated its commitment to support underprivileged children across the country with their ''Desh Ko Arpan'' programme.

The programme contributes 10 paise for every kilo of Tata salt across the country during the months of January and August to a social cause and will extend educational support to 1,500 underprivileged girl children, who are part of the Nanhi Kali project, jointly managed by K C Mahindra Education Trust and Naandi Foundation.

Tata Chemicals, country''s leading manufacturer of food additives, fertilisers and inorganic chemicals owns and operates the largest integrated inorganic chemicals complex at Mithapur in Gujarat.

The company is also in the process of setting up 30 outlets for its farm produce range branded as Total Produce, a joint venture with an Irish firm.