⌘K
t
Tata Steel Limited acquired 1,55,34,738 equity shares in its wholly owned subsidiary, Tata Steel Advanced Materials Limited (TSAML), on March 16, 2023. The acquisition was executed at an issue price of ₹12.81 per share, amounting to approximately ₹19.90 crore. Post-transaction, TSAML continues to be a wholly owned subsidiary of Tata Steel Limited.
| Date | 17 Mar 2023 |
| Time | 16:51:50 |
| Category | Acquisitions and alliances |
| ID | 4215T |
March 17, 2023
London Stock Exchange
London
Dear Madam, Sirs,
This is to inform you that, Tata Steel Limited ('Company') has, on March 16, 2023, acquired 1,55,34,738 equity shares of ₹10/- each at an issue price of ₹12.81 per share (including a premium of ₹2.81 per share), of Tata Steel Advanced Materials Limited ('TSAML'), a wholly owned subsidiary of the Company, for an amount aggregating to approximately ₹19.90 crore (hereinafter referred to as the 'Transaction'). On completion of the above acquisition, TSAML will continue to be a wholly owned subsidiary of Tata Steel Limited.
The relevant details with respect to the Transaction are enclosed in Annexure A.
http://www.rns-pdf.londonstockexchange.com/rns/4215T_1-2023-3-17.pdf
This disclosure is being made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
This is for your information and records.