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RNS Number : 9261L Tata Steel Limited 08 September 2023
September 8, 2023
London Stock Exchange
London
Dear Sir(s), Madam,
Subject: Acquisition of equity stake in The Indian Steel & Wire Products
Limited, subsidiary of Tata Steel Limited, on preferential basis
This is to inform you that, Tata Steel Limited ('Company') has today i.e., on
September 8, 2023, acquired 26,22,890 equity shares of ₹10/- each at an
issue price of ₹427.01 per share (including a premium of ₹417.01 per
share), of The Indian Steel & Wire Products Limited ('ISWP'), a subsidiary
of the Company, on preferential basis, for an amount aggregating to ~₹112
crore (hereinafter referred to as the 'Transaction'). Upon completion of the
Transaction, ISWP will continue to be a subsidiary of the Company.
The relevant details with respect to the Transaction are enclosed in Annexure
A.
http://www.rns-pdf.londonstockexchange.com/rns/9261L_1-2023-9-8.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/9261L_1-2023-9-8.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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