REG - Tata Steel Limited - Acquisition

TATA SteelAnnouncement

31/10/2022 07:01

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RNS Number : 5702E  Tata Steel Limited  29 October 2022

 

October 29, 2022

 

London Stock Exchange

London

 

Dear Madam, Sirs,

 

Sub: Acquisition of equity stake in Tata Steel Advanced Materials Limited, a wholly owned subsidiary of Tata Steel Limited, on preferential basis

 

This is to inform you that, Tata Steel Limited ('Company') has, on October 28,
2022, acquired 1,56,12,802 equity shares of ₹10/- each at an issue price of
₹12.81 per share (including a premium of ₹2.81 per share), of Tata Steel
Advanced Materials Limited ('TSAML'), for an amount aggregating to
approximately ₹20 crore (hereinafter referred to as the 'Transaction'). On
completion of the above acquisition, TSAML will continue to be a wholly owned
subsidiary of the Company.

 

The relevant details with respect to the Transaction are enclosed in Annexure
A.

 

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

 

This is for your information and records.

http://www.rns-pdf.londonstockexchange.com/rns/5702E_1-2022-10-29.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/5702E_1-2022-10-29.pdf)

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