Transfer of stake in Adityapur Toll Bridge Co. Ltd

RNS Number : 8065N

Tata Steel Limited

01 October 2021

October 1, 2021

London Stock Exchange

London

Dear Madam, Sirs,

Sub: Transfer of equity stake held by Tata Steel Limited (TSL/Company) in Adityapur Toll Bridge Company Limited to Tata Steel Utilities and Infrastructure Services Limited (formerly known as Jamshedpur Utilities & Services Company Limited), a wholly owned subsidiary of TSL

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.

As part of the said initiative, the Company today transferred its entire stake i.e. 88.50%, held in Adityapur Toll Bridge Company Limited (ATBCL) to Tata Steel Utilities and Infrastructure Services Limited (TSUISL), a wholly owned subsidiary of the Company.

a. The details of transfer are as under:

SN.	Particulars	Details
1	The amount and percentage of the turnover or revenue or income and net worth contributed by such unit or division of the listed entity during last Financial Year	Tata Steel Limited held 4,14,00,000 equity shares of ₹10/- each in ATBCL, a subsidiary company with 88.50% of equity shareholding being held by TSL. As on March 31, 2021, the turnover attributable to shareholding in ATBCL, as considered in the Company's financial statements was ₹5.66 crore.
2	Date on which the agreement for sale has been entered	Not Applicable
3	The expected date of completion of sale / disposal	The transaction has been completed on October 1, 2021.
4	Consideration received from such sale / disposal	The consideration is in the form of 8,31,851 Equity Shares of TSUISL at ₹215/- per equity share (includes face value of ₹10/- each) being the fair value as determined by an Independent Registered Valuer. TSUISL continues to be a wholly owned subsidiary of the Company.
5	Brief details of buyers and whether any of the buyers belong to the Promoter / Promoter Group/ Group Companies. If yes, details thereof;	Tata Steel Utilities and Infrastructure Services Limited is a wholly owned subsidiary of Tata Steel Limited.
6	Whether the transaction would fall within Related Party Transaction? If yes, whether the same is done at "arms-length"	Yes, the transaction is with a Related Party and on arms-length basis.
7	Additionally, in case of a slump sale, indicative disclosures provided for amalgamations / merger, shall be disclosed by the listed entity with respect to such slump sale.	Not applicable

b. The additional details of the abovementioned transactions are as hereunder:

SN.

Particulars

Details

Details and reasons for restructuring

The Company is reorganizing its footprint in India into 4 clusters to drive scale, synergies and simplification and to create value for all stakeholders.

TSUISL has been identified as the anchor entity for the Utilities and Infrastructure Services cluster. Accordingly, the Company's investment(s) held in entities forming part of the Utilities and Infrastructure Services business are being consolidated with TSUISL.

Quantitative and/ or qualitative effect of restructuring

Details of benefit, if any, to the promoter/promoter group/group companies from such proposed restructuring

Brief details of change in shareholding pattern (if any) of all the entities

a. Tata Steel Limited

There is no change in shareholding pattern of Tata Steel Limited.

b. Tata Steel Utilities and Infrastructure Services Limited

Post the allotment of 8,31,851 Equity Shares by TSUISL to TSL, Tata Steel's shareholding in TSUISL stands increased to 5,95,02,372 Equity Shares. TSUISL continues to be a wholly owned subsidiary of Tata Steel Limited.

c. Adityapur Toll Bridge Company Limited

(%)

Name of Company	Tata Steel		TSUISL
Name of Company	Pre	Post	Pre	Post
ATBCL	88.50	-	-	88.50

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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