MoneyWorks4Me

Tata Steel acquires additional stake in TSUISL

27 Mar 2023 Evaluate

Tata Steel has acquired 4,65,116 equity shares of Rs 10 each at a premium of Rs 205 per share of Tata Steel Utilities and Infrastructure Services (TSUISL), a wholly owned subsidiary of the Company, on Rights basis, for an amount aggregating to around Rs 10 crore (hereinafter referred to as the ‘Transaction’). Consequent to the completion of the Transaction, TSUISL continues to be a wholly owned subsidiary of the Company.

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.

Peers
Company Name CMP
JSW Steel 1232.35
Tata Steel 178.00
Steel Authority 175.80
Jindal Stainless 742.00
APL Apollo Tubes 2096.95
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