Tata Steel Ltd.

Tata Steel has acquired 1,15,45,667 equity shares of Rs 10 each at an issue price of Rs 12.81 per share (including a premium of Rs 2.81 per share), of Tata Steel Advanced Materials (TSAML), for an amount aggregating to around Rs 14.80 crore. On completion of the above acquisition, TSAML will continue to be a wholly owned subsidiary of the Company. The main objective of acquisition is to grow the business of New Materials Business (NMB) under TSAML.

On completion of the said Transaction, the company will directly hold 66.75% of equity stake in TSAML. The remaining 33.25% of equity stake will be held by Tata Steel Downstream Products, direct 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.