London, July 27 - Tata Steel, one of the world's leading steel companies, Monday raised $500 million on the London Stock Exchange - the largest ever Indian Global Depository Receipt (GDR) offering in London.

Welcoming Tatas, the London Stock Exchange (LSE) said the amount represented one of the biggest new equity issues to be conducted by a company outside its home market on any global exchange in the last 12 months.

'As a globally ambitious Indian company, with significant operations in Europe, Tata Steel is a high profile addition to our markets,' said LSE Group Chief Executive Xavier Rolet.

'Tata Steel's listing demonstrates that London remains the market of choice for companies from across the globe seeking to access a truly global pool of international investment capital and benefit from trading on the International Order Book, the world's most liquid trading platform for GDRs,' he added.

Commenting on the equity raising, Tata Steel Managing Director B.