Tata Steel Ltd.

Tata Steel has acquired shares and convertible warrants of its subsidiary -- Tata Metaliks for about Rs 403.79 crore. The company has acquired 27.97 lakh equity shares of Tata Metaliks at a price of Rs 642 per share aggregating to Rs 179.57 crore.

It has also acquired 34,92,500 warrants at a price of Rs 642 per warrant, with a right exercisable by the warrant holder to subscribe for one equity share per Warrant of face value of Rs 10 each, aggregating to Rs 224.21 crore. The purpose of acquisition is to fund the expansion project and also strengthen the balance sheet of Tata Metaliks.

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.