Tata Steel Ltd.

Tata Steel has acquired 788,53,50,318 ordinary equity shares of face value $0.157 each aggregating to $1238 million (Rs 10726.85 crore) in T Steel Holdings (TSHP). TSHP is a wholly owned subsidiary of the company with primary business including holding of equity shares of indirect overseas subsidiaries of Tata Steel and other entities, excluding banks.

The present fund infusion will be used by TSHP to repay external debt at offshore entities and to support the restructuring at Tata Steel UK, a wholly owned subsidiary of Tata Steel. 

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.