Tata Steel’s subsidiary -- Tata Steel Long Products (TSLP) has accepted Letter of Award (LoA) to acquire 93.71% stake in Neelachal Ispat Nigam (NINL). The process for acquisition of NINL is likely to be completed within the next couple of months in accordance with the timelines announced by DIPAM (Department of Investment and Public Asset Management). Earlier, on February 2, 2022, DIPAM issued the Letter of Award to TSLP for acquisition of 93.71% equity stake of NINL.
Tata Steel, the flagship company of the Tata group, is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 company.
