Tata Steel has acquired additional 1,24,90,000 equity shares of face value Rs 10 each aggregating to Rs 12.49 crore in Indian Foundation for Quality Management (IFQM). Post the acquisition, the Company’s aggregate shareholding in IFQM has increased from 9.09% to 16.66%.
IFQM is a not-for-profit company, incorporated on September 6, 2023, under Section 8 of the Companies Act, 2013, with the primary objective of being an integrated empowered foundation which would be at the forefront of driving positive change in the Indian industry.
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.
