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Acquisition

17th Mar 2023 16:51

RNS Number : 4215T
Tata Steel Limited
17 March 2023
 

March 17, 2023

 

London Stock Exchange

London

 

Dear Madam, Sirs,

 

Sub: Acquisition of equity stake in Tata Steel Advanced Materials Limited, a wholly owned subsidiary of Tata Steel Limited, on preferential basis

 

This is to inform you that, Tata Steel Limited ('Company') has, on March 16, 2023, acquired 1,55,34,738 equity shares of ₹10/- each at an issue price of ₹12.81 per share (including a premium of ₹2.81 per share), of Tata Steel Advanced Materials Limited ('TSAML'), a wholly owned subsidiary of the Company, for an amount aggregating to approximately ₹19.90 crore (hereinafter referred to as the 'Transaction'). On completion of the above acquisition, TSAML will continue to be a wholly owned subsidiary of Tata Steel Limited.

 

The relevant details with respect to the Transaction are enclosed in Annexure A.

http://www.rns-pdf.londonstockexchange.com/rns/4215T_1-2023-3-17.pdf

 

This disclosure is being made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

 

This is for your information and records.

 

 

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