Acquisition

Tata Steel Limited

08 September 2023

 

September 8, 2023

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 to inform you that, Tata Steel Limited ('Company') has today i.e., on
September 8, 2023, acquired 26,22,890 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 of the Company, on preferential basis, for an amount aggregating to ~₹112 crore (hereinafter referred to as the 'Transaction'). Upon completion of the Transaction, ISWP will continue to be a subsidiary of the Company.

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

 http://www.rns-pdf.londonstockexchange.com/rns/9261L_1-2023-9-8.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. 

 

END