Tata Steel: Transfer of stake in group companies

1

The amount and percentage of the turnover or revenue or income and net worth contributed by such unit or division of the listed entity during last Financial Year

a) Tata Steel Limited held 39,94,60,501 equity shares of ₹10/- each in TSSEZ, wholly owned subsidiary of the Company. As on March 31, 2020, the turnover of TSSEZ as considered in the Company's financial statements was ₹0.40 crore.

b) Tata Steel Limited held 75,000 equity shares of ₹100/- each in TPL, a wholly owned subsidiary of the Company. As on March 31, 2020, the turnover of TPL as considered in the Company's financial statements, was ₹122.31 crore.

c) Tata Steel Limited held 36,75,000 equity shares of ₹10/- each in JAMIPOL, a joint venture company with 32.67% of equity shareholding being held by TSL. As on March 31, 2020, the net worth of JAMIPOL as considered in Company's financial statements was ₹70.67 crore.

d) Tata Steel Limited held 3,40,000 equity shares of ₹10/- each in NJPL, a joint venture company with 20.99% of equity shareholding being held by TSL. As on March 31, 2020, the net worth of NJPL as considered in the Company's financial statements was Nil

2

Date on which the agreement for sale has been entered

NA

3

The expected date of completion of sale / disposal

The transaction has been completed on April 3, 2021.

4

Consideration received from such sale / disposal

The consideration is in the form of equity shares of Tata Steel Utilities and Infrastructure Services Limited at ₹213 per equity share (includes face value of ₹10 each) being the fair value as determined by an Independent Registered Valuer. TSUISL continues to be a wholly owned subsidiary of the Company.

a) For TSSEZ Share Transfer: 2,39,30,122 equity shares of TSUISL.

b) For TPL Share Transfer: 47,84,507 equity shares of TSUISL

c) For Jamipol Share Transfer: 49,17,253 equity shares of TSUISL

The entire holding in NJPL was transferred to TSUISL for a consideration of ₹1/-.

5

Brief details of buyers and whether any of the buyers belong to the Promoter / Promoter Group/ Group Companies. If yes, details thereof;

Tata Steel Utilities and Infrastructure Services Limited is a wholly owned subsidiary of Tata Steel Limited.

6

Whether the transaction would fall within Related Party Transaction? If yes, whether the same is done at "arms-length"

Yes, the transactions are with a Related Party and onarms-length basis.

7

Additionally, in case of a slump sale, indicative disclosures provided for amalgamations / merger, shall be disclosed by the listed entity with respect to such slump sale.

Not applicable

1.

Details and reasons for restructuring

The Company is reorganizing its India footprint into 4 clusters to drive scale, synergies and simplification and to create value for all stakeholders.

TSUISL has been identified as the anchor entity for the Utilities and Infrastructure Services cluster. Accordingly, the Company's investment(s) held in entities forming part of the Utilities and Infrastructure Services business are being consolidated with TSUISL.

2.

Quantitative and/ or qualitative effect of restructuring

3.

Details of benefit, if any, to the promoter/promoter group/group companies from such proposed restructuring

4.

Brief details of change in shareholding pattern (if any) of all entities

a. Tata Steel Limited

There is no change in shareholding pattern of Tata Steel Limited.

b. Tata Steel Utilities and Infrastructure Services Limited (TSUISL)

Post the allotment of 3,36,31,882 equity shares, Tata Steel's shareholding in TSUISL stands increased to 5,79,81,882 equity shares. TSUISL continues to be a wholly owned subsidiary of Tata Steel Limited.

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