Tata Steel has acquired 1,55,34,738 equity shares of Rs 10 each at an issue price of Rs 12.81 per share (including a premium of Rs 2.81 per share), of Tata Steel Advanced Materials (TSAML), a wholly owned subsidiary of the company, on March 16, 2023 for an amount aggregating to around Rs 19.90 crore. On completion of the above acquisition, TSAML will continue to be a wholly owned subsidiary of Tata Steel.
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.
