Acquisition

Tata Steel Limited

09 May 2024

 

May 9, 2024

London Stock Exchange

London

Dear Sir(s), Madam,

Subject: Acquisition of equity stake in The Indian Steel & Wire Products Limited, subsidiary of Tata Steel Limited, on preferential basis

This is further to our disclosure dated September 8, 2023, on the above-mentioned subject. Tata Steel Limited ('Company') has today, i.e., on May 9, 2024, acquired 18,73,493 equity shares of ₹10/- each at an issue price of ₹427.01 per share (including a premium of ₹417.01 per share), of The Indian Steel & Wire Products Limited ('ISWP'), a subsidiary company, on preferential basis, for an aggregate amount of ~₹80 crore (hereinafter referred to as the 'Transaction'). Upon completion of the Transaction, the aggregate equity stake of the Company has increased to 98.61%.

The relevant details with respect to the Transaction are enclosed in Annexure A.

This disclosure is made in compliance with Regulation 30 read with 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. 

http://www.rns-pdf.londonstockexchange.com/rns/8491N_1-2024-5-9.pdf

 

END