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Tata Steel Limited completed the acquisition of a 26% equity stake in TP Parivart Ltd on August 29, 2024. This involved acquiring 13,000 equity shares of TP Parivart Ltd. The aggregate consideration for these shares was ₹1,30,000.
| Date | 29 Aug 2024 |
| Time | 14:57:00 |
| Category | Acquisitions and alliances |
| ID | 2025C |
August 29, 2024
London Stock Exchange
London
Dear Madam, Sirs,
Sub: Acquisition of 26% equity stake in TP Parivart Ltd
This has reference to our disclosure dated July 31, 2024, wherein Tata Steel Limited ('Company') had informed about the execution of a Share Purchase & Shareholders' Agreement ('SPSA') with Tata Power Renewable Energy Ltd. ('TPREL') and its wholly owned subsidiary TP Parivart Ltd ('TPPL'), to acquire and hold 26% equity stake in TPPL and the proposed fund infusion thereon.
In this connection, we wish to inform you that, the Company has today, i.e. August 29, 2024, completed the acquisition of 13,000 equity shares of face value ₹10 each, at par, (i.e., 26% equity stake) of TPPL, for an aggregate consideration of ₹1,30,000/-.
This disclosure is being made pursuant to Regulation 30 read with Para A of Part A of Schedule III and Regulation 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
This is for your information and records.