REG - Tata Steel Limited - Execution of definitive agreement for acquisition

TATA SteelAnnouncement

28/02/2022 18:00

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RNS Number : 1008D  Tata Steel Limited  28 February 2022

February 28, 2022

 

London Stock Exchange

London

 

Dear Madam, Sirs,

 

Sub:    Execution of definitive agreement for acquisition of 90% equity
stake in Ceramat Private Limited by Tata Steel Advanced Materials Limited
("TSAML")

 

This is to inform you that, TSAML an indirect wholly owned subsidiary ("WOS")
of Tata Steel Limited, has, today, February 28, 2022, executed a Share
Purchase cum Shareholders' Agreement ("SPSHA") for acquisition of 90% equity
stake in Ceramat Private Limited ("CPL").

 

The relevant details with respect to the acquisition of 90% equity stake in
CPL are given in Annexure 1.

 

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

 

This is for your information and records.

 

 

 

 

 

 

 

 

 

 

 

 

ANNEXURE 1

 

 SN.     Particulars                                                                      Details
 1.      Name of the target entity, details in brief such as size, turnover etc

                                                                                          Ceramat Private Limited ("CPL") was incorporated on November 2, 2021, for the
                                                                                          purpose of advanced ceramics with health care focus. CPL is jointly promoted
                                                                                          by

Mr. Sabyasachi Roy and Mr. Tushar Gothi.

                                                                                          As of date, CPL has not commenced operations.

 2.      Whether the acquisition would fall within related party transaction(s) and
         whether the promoter/ promoter group/ group companies have any interest in the

         entity being acquired? If yes, nature of interest and details thereof and        No
         whether the same is done at "arms-length"

 3.      Industry to which the entity being acquired belongs                              Bio-Ceramics
 4.      Objects and effects of acquisition (including but not limited to, disclosure     Tata Steel Limited has identified Advanced Ceramics as one of the new
         of reasons for acquisition of target entity, if its business is outside the      materials for strategic growth. Within Advanced Ceramics, the first sector of
         main line of business of the listed entity)                                      choice is in medical materials owing to high growth potential and non-cyclical
                                                                                          nature. Tata Steel Limited aspires to setup a world class facility to produce
                                                                                          medical materials and use CPL as a special purpose vehicle for this purpose.
                                                                                          The facility shall focus on producing Hydroxyapatite - a calcium
                                                                                          phosphate-based ceramic used as bone replacement.

                                                                                          The promoter of CPL are amongst the very few with such proven capability.
 5.      Brief details of any governmental or regulatory approvals required for the
         acquisition

                                                                                          None

 6.      Indicative time period for completion of the acquisition                         Within 60 days from the date of signing of the agreement
 7.      Nature of consideration - whether cash consideration or share swap and details   Cash
         of the same
 8.      Cost of acquisition or the price at which the shares are acquired                ₹90,000/-
 9.      Percentage of shareholding / control acquired and / or number of shares          90% equity shares of CPL
         acquired
 10.                                                                                      CPL was incorporated on

November 2, 2021 in India, for the purpose of advanced ceramics with health
         Brief background about the entity acquired in terms of products/line of          care focus. CPL is jointly promoted by
         business acquired, date of incorporation, history of last 3 years turnover,
Mr. Sabyasachi Roy and Mr. Tushar Gothi. Mr. Sabyasachi Roy is a ceramic
         country in which the acquired entity has presence and any other significant      technologist and an entrepreneur and
         information (in brief)
Mr. Tushar Gothi has been associated with ceramic business for 16 years.

                                                                                          As on date, CPL has not commenced operations.

                                                                                          CPL promoters have the core competence of various oxide ceramic composition
                                                                                          manufacturing through process routes like slip casting, gel casting, powder
                                                                                          compaction, spray drying and vibro-casting instrumental in advanced ceramics
                                                                                          manufacturing.

 

 

 

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