Tata Steel has acquired 199,07,40,741 equity shares of face value $0.0864 each aggregating to $172 million (Rs 1,625.29 crore) in T Steel Holdings Pte (TSHP), a wholly owned foreign subsidiary of the company. Post this acquisition, TSHP will continue 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.