SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Tata Sponge Iron completes acquisition of steel business of Usha Martin

10 Apr 2019 Evaluate

Tata Sponge Iron has completed the acquisition of steel business undertaking including captive power plants, on April 09, 2019, pursuant to a cash consideration (after adjustment for negative working capital and debt like items) payable to Usha Martin (UML) of Rs 4,094 crore, which is subject to further hold backs of Rs 640 crore, pending transfer of some of the assets including mines and certain land parcels.

Earlier, the company had received board of directors’ approval to acquire the steel business undertaking of UML through a slump sale on a going concern basis.

Tata Sponge Iron is engaged in business of manufacturing high-grade sponge iron that is consistent quality. The company also in the business segment of Power, Sponge Iron. 

Tata SteelLong-Amalg Share Price

829.45 0.00 (0.00%)
16-Nov-2023 17:59 View Price Chart
Peers

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×