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On March 22, 2023, Tata Steel Limited acquired 1,35,29,959 equity shares of Tata Steel Advanced Materials Limited (TSAML) from Tata Steel Downstream Products Limited (TSDPL). The shares were acquired at ₹12.81 per share (₹10/- face value plus ₹2.81 premium), totaling approximately ₹17.33 crore. Following this transaction, TSAML became a direct wholly owned subsidiary of Tata Steel Limited.
| Date | 23 Mar 2023 |
| Time | 14:13:14 |
| Category | Acquisitions and alliances |
| ID | 0577U |
March 23, 2023
London Stock Exchange
London
Dear Madam, Sir(s),
Sub: Acquisition of equity stake in Tata Steel Advanced Materials Limited, a
wholly owned subsidiary company
This is to inform you that, Tata Steel Limited ('Company') has on March 22, 2023, acquired the balance 1,35,29,959 equity shares of ₹10/- each, at a premium of ₹2.81 per share (total ₹12.81 per share), of Tata Steel Advanced Materials Limited ('TSAML'), an indirect
wholly owned subsidiary of the Company, from Tata Steel Downstream Products Limited ('TSDPL'), a direct wholly owned subsidiary of the Company, for an amount aggregating to approximately ₹17.33 crore (together referred to as 'Transaction'). Consequent to the Transaction, TSAML has become a direct wholly owned subsidiary of the Company.
The relevant details of the above-mentioned Transaction are enclosed in Annexure A.
http://www.rns-pdf.londonstockexchange.com/rns/0577U_1-2023-3-23.pdf
This disclosure is made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
This is for your information and records.