RPT-UPDATE 1-Tata Steel to sell GDRs for about $600 mln-sources

(Repeats story issued late on Thursday)

* Citigroup, JPMorgan arrangers; on verge of launch-sources

* Company official denies plan

* Shares rise to highest close in over two weeks (Adds details, quotes, Tata Steel CFO comment)

By Narayanan Somasundaram

MUMBAI, July 2 (Reuters) - India's Tata Steel (TISC.BO: Quote, Profile, Research), the world's sixth-largest steel maker, plans to sell global depositary receipts worth about $600 million, two sources with direct knowledge of the deal said on Thursday.

A company official denied the plan.

"This is not true. If there is any such plan we will notify at the right moment," Chief Financial Officer Koushik Chatterjee told Reuters.

The sources, who cannot be named because they are not authorised to speak to the media, said Citigroup (C.N: Quote, Profile, Research) and JPMorgan (JPM.N: Quote, Profile, Research) were arrangers for the deal.