REG - Tata Steel Limited - Acquisition of equity stake

TATA SteelAnnouncement

28/08/2024 14:45

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RNS Number : 0361C  Tata Steel Limited  28 August 2024

 

August 28, 2024

London Stock Exchange

London

 

Dear Madam, Sirs,

 

Sub:  Acquisition of equity stake in T Steel Holdings Pte. Ltd

 

This is further to our disclosures dated May 29, 2024, July 29, 2024 and
August 14, 2024.

 

We wish to inform you that, Tata Steel Limited ('Company') has today i.e.
August 28, 2024, acquired 178,34,39,490 ordinary equity shares of face value
USD 0.157 each aggregating to USD 280 million (₹2,347.81 crore*) in T Steel
Holdings Pte. Ltd ('TSHP'). Post this acquisition, TSHP will continue to be a
wholly owned subsidiary of the Company.

 

This disclosure is being made in compliance with Regulation 30 read with Para
A of Part A of Schedule III, Regulation 51 and other applicable provisions of
the Securities and Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015, as amended.

 

 

 

*USD to INR exchange rate has been taken as ₹83.8504 as published by Reserve
Bank of India on

August 26, 2024.

 

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