Tata Steel Limited on Thursday acquired 1,40,51,522 equity shares of face value ₹10 each, at a premium of ₹2.81 per share (total ₹12.81 per share), of Tata Steel Advanced Materials Limited (TSAML), a wholly-owned subsidiary of the Company, for an amount aggregating to approximately ₹17.99 crore (referred to as Transaction), the company announced through an exchange filing.
Tata Steel Advanced Materials Limited (TSAML) was incorporated on June 22, 2012, under the Companies Act, 1956, as a wholly-owned subsidiary of Tata Steel Limited (TSL).
Prior to the transaction, TSL held 5,62,23,166 equity shares of face value ₹10 each of TSAML. Consequent to the present transaction, TSL will hold 7,02,74,688 equity shares of face value ₹10 each of TSAML. TSAML will continue to remain a wholly-owned subsidiary of TSL.
Tata Steel Limited shares
The shares of Tata Steel Limited on Friday at 1:16 pm IST were at ₹120.45, up by 0.54 percent.
