Tata Steel Ltd.

Tata Steel has acquired 4,68,75,000 equity shares of Rs 10 each at a premium of Rs 54 per share, of Neelachal Ispat Nigam (NINL), an unlisted indirect subsidiary of the Company, for an amount aggregating to Rs 300 crore, being Tranche 1 of the investment in the equity shares of NINL.

The proposed funding will be utilized towards the working capital and capex requirement of NINL including start-up of iron and steel plant at Kalinganagar, repayment/prepayment of liabilities and for other general corporate purposes.

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.