Tata Steel has completed acquisition of 13,000 equity shares of face value Rs 10 each, at par, (i.e., 26% equity stake) of TP Parivart (TPPL) for an aggregate consideration of Rs 1,30,000.
Earlier, the company had executed Share Purchase & Shareholders’ Agreement (SPSA) with Tata Power Renewable Energy (TPREL) and its wholly owned subsidiary -- TPPL to acquire and hold 26% equity stake in TPPL.
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.
