REG - Tata Steel Limited - Acquisition

TATA SteelAnnouncement

09/05/2024 14:15

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RNS Number : 8491N  Tata Steel Limited  09 May 2024

 

 

May 9, 2024

 

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 further to our disclosure dated September 8, 2023, on the
above-mentioned subject. Tata Steel Limited ('Company') has today, i.e., on
May 9, 2024, acquired 18,73,493 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 company,
on preferential basis, for an aggregate amount of ~₹80 crore (hereinafter
referred to as the 'Transaction'). Upon completion of the Transaction, the
aggregate equity stake of the Company has increased to 98.61%.

 

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

 

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

 

This is for your information and records.

http://www.rns-pdf.londonstockexchange.com/rns/8491N_1-2024-5-9.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/8491N_1-2024-5-9.pdf)

 

 

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