REG - Tata Steel Limited - Acquisition of equity stake in indirect subsidiary

TATA SteelAnnouncement

22/02/2023 16:45

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RNS Number : 7554Q  Tata Steel Limited  22 February 2023

February 22, 2023

 

London Stock Exchange

London

 

Dear Sir(s), Madam,

 

Subject: Acquisition of equity stake in Neelachal Ispat Nigam Limited,
indirect subsidiary of the Company

 

We wish to inform you that, Tata Steel Limited ('Company') has, on February
21, 2023, acquired 4,68,75,000 equity shares of ₹10/- each at a premium of
₹54/- per share, of Neelachal Ispat Nigam Limited ('NINL'), an unlisted
indirect subsidiary of the Company, for an amount aggregating to ₹300 crore
(hereinafter referred to as the 'Transaction'), being Tranche 1 of the
investment in the equity shares of NINL.

 

The relevant details of the transaction are enclosed in Annexure I.

http://www.rns-pdf.londonstockexchange.com/rns/7554Q_1-2023-2-22.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/7554Q_1-2023-2-22.pdf)

 

This disclosure is made in compliance with Regulation 30 of the Securities and
Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015, as amended.

 

This is for your information and records.

 

 

 

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