REG - Tata Steel Limited - Acquisition of equity stake

TATA SteelAnnouncement

29/07/2024 14:45

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RNS Number : 2538Y  Tata Steel Limited  29 July 2024

 

July 29, 2024

London Stock Exchange

London

 

Dear Madam, Sir,

 

Sub:  Acquisition of equity stake in T Steel Holdings Pte. Ltd

 

This is further to our disclosure dated May 29, 2024, informing that the Board
of Directors of Tata Steel Limited ('Company'), have approved infusion of
funds by way of subscription to equity shares of T Steel Holdings Pte. Ltd
('TSHP'), a wholly owned foreign subsidiary of the Company, in one or more
tranches, during FY2024-25.

 

In this connection, we wish to inform you that, the Company has today i.e.
July 29, 2024, acquired 557,32,48,408 equity shares of face value USD 0.157
each aggregating to

USD 875 million (₹7,324.41 crore*) in TSHP. Post this acquisition, TSHP will
continue to be a wholly owned subsidiary of the Company.

 

This disclosure is being made in compliance with Regulation 30 read with Para
A of Part A of Schedule III, Regulation 51 and other applicable provisions of
the Securities and Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015, as amended.

 

 

 

 

* USD to INR exchange rate has been taken as ₹83.7075 as published by RBI on
July 25, 2024.

 

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