Tata Steel Ltd.

Tata Steel has executed Share Purchase and Shareholders’ Agreement with Tata Power Renewable Energy and its wholly owned subsidiary, TP Vardhaman Surya and has completed the acquisition of 13,000 equity shares of face value Rs 10 each, at par, of TP Vardhaman Surya, i.e., 26% equity shareholding, for an aggregate consideration of Rs 1,30,000.

In line with Tata Group’s goal of net zero by 2045, the objective of the acquisition is to source renewable power and reduce its carbon footprint by replacing partially coal based thermal power consumption and fulfilling additional power requirement for expansion.

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.