RNS Number : 8491N
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

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
ACQEAASNESNLEFA