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On July 31, 2025, The Siam Industrial Wire Company Limited (SIW), an indirect wholly owned foreign subsidiary of Tata Steel Limited, executed a Share Purchase Agreement with Nichia Steel Works Ltd. for the acquisition of Nichia's 40% equity stake in TSN Wires Company Limited. The acquisition was for a nominal consideration of THB 100 (approximately ₹270) and will result in TSN Wires becoming an indirect wholly owned foreign subsidiary of Tata Steel Limited.
| Date | 1 Aug 2025 |
| Time | 07:00:00 |
| Category | Acquisitions and alliances |
| ID | 5045T |
July 31, 2025
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The Secretary, Listing Department BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001. Maharashtra, India. Scrip Code: 500470 |
The Manager, Listing Department National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Plot No. C/1, G Block, Bandra-Kurla Complex, Bandra, Mumbai - 400 051. Maharashtra, India. Symbol: TATASTEEL |
Dear Madam, Sirs,
Sub: Acquisition of equity stake in TSN Wires Company Limited
This is in reference to the abovementioned subject.
The Siam Industrial Wire Company Limited ('SIW') is an indirect wholly owned foreign subsidiary of Tata Steel Limited ('Company') incorporated in Thailand. TSN Wires Company Limited ('TSN Wires') is a joint venture company between SIW (60% stake) and Nichia Steel Works Ltd. ('Nichia') (40% stake), having operations in Thailand. Both SIW and TSN Wires form part of the Company's South-East Asia business.
On July 31, 2025, SIW executed a Share Purchase Agreement with Nichia, for acquisition of the 40% equity stake held by Nichia in TSN Wires at a nominal consideration of
THB 100 (approximately ₹270). With this acquisition, TSN Wires will become an indirect wholly owned foreign subsidiary of the Company.
Further details of the said acquisition are enclosed herewith as Annexure.
This disclosure is being made pursuant to Regulation 30, 51, Schedule III and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
This is for your information and records.
Encl.: Annexure
Annexure
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Particulars |
Details |
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1. |
Name of the target entity, details in brief such as size, turnover etc. |
TSN Wires Company Limited ('TSN Wires'), incorporated on April 11, 2012, is a Thailand based downstream steel wires company having a capacity of 41 KTPA. Its financials are as under: ( ₹ crore)
On July 31, 2025, The Siam Industrial Wire Company Limited ('SIW'), an indirect wholly owned foreign subsidiary of Tata Steel Limited, executed a Share Purchase Agreement with Nichia Steel Works Ltd, for acquisition of the 40% equity stake held by Nichia in TSN Wires, for a nominal consideration of THB 100 (approximately ₹270). With this acquisition, TSN Wires will become an indirect wholly owned foreign subsidiary of the Company. |
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2. |
Whether the acquisition would fall within related party transaction(s) and whether the promoter/promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at "arm's length" |
No
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3. |
Industry to which the entity being acquired belongs |
Steel Industry |
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4. |
Objects and impact of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity) |
The acquisition of 40% equity stake in TSN Wires by SIW will result in TSN Wires becoming a wholly owned subsidiary of SIW. This will enhance synergies and improve efficiency in management of SIW and TSN Wires. |
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5. |
Brief details of any governmental or regulatory approvals required for the acquisition |
None |
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6. |
Indicative time period for completion of the acquisition |
Within one month of execution of the Share Purchase Agreement. |
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7. |
Consideration - whether cash consideration or share swap or any other form and details of the same |
Cash consideration |
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8. |
Cost of acquisition and/or the price at which the shares are acquired |
Nominal Consideration of THB 100 (approximately ₹270) |
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9. |
Percentage of shareholding/ control acquired and/or number of shares acquired |
SIW will acquire 40% stake in TSN Wires. |
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10. |
Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief). |
TSN Wires was incorporated on April 11, 2012. It is a joint venture between SIW (60%) and Nichia Steel Works Ltd. (40%). It was established to cater to premium steel wire segments.
( ₹ crore)
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