REG - Tata Steel Limited - Transfer of equity stake

TATA SteelAnnouncement

30/03/2022 14:30

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RNS Number : 6381G  Tata Steel Limited  30 March 2022

March 30, 2022

 

London Stock Exchange

London

 

Dear Madam, Sirs,

 

Sub: Transfer of equity stake held by Tata Steel Limited in Tata Steel Special
Economic Zone Limited to Tata Steel Utilities and Infrastructure Services
Limited for consideration other than cash

 

This has reference to our Press Release dated November 13, 2020. As part of
the earnings release, the Company had announced that to drive scale, synergies
and simplification and to create value for all stakeholders, it is
reorganizing its India footprint into 4 clusters.

 

In continuation of the above, on April 3, 2021, Tata Steel Limited (Company)
had transferred its entire equity stake i.e. 100%, held in Tata Steel Special
Economic Zone Limited (TSSEZ) to Tata Steel Utilities and Infrastructure
Services Limited (TSUISL), a wholly owned subsidiary of the Company, for
consideration other than cash. The relevant disclosure in this regard had been
made on even date.

 

Further, the Company, during the FY2021-22 has been allotted 89,63,888 equity
shares of TSSEZ, for consideration other than cash in lieu of transfer of
assets from the Company to TSSEZ. As part of the Company's initiative towards
simplification of its portfolio, the Company has today, i.e. March 30, 2022
transferred the 89,63,888 equity shares of face value Rs. 10/- each, held in
TSSEZ to TSUISL for a consideration other than cash, in form of 5,51,175
equity shares of TSUISL. The details of the transaction are provided in
Annexure A.

 

http://www.rns-pdf.londonstockexchange.com/rns/6381G_1-2022-3-30.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/6381G_1-2022-3-30.pdf)

 

This disclosure is being made in compliance with Regulation 30(6) of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015, as
amended.

 

This is for your information and records.

 

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