Tata Steel acquires about 116 cr equity shares in Singapore-based arm for USD 182 mn

Tata Steel has announced the acquisition of approximately 116 crore equity shares in its Singapore-based subsidiary, T Steel Holdings Pte Ltd (TSHP), for USD 182 million. The acquisition ensures TSHP remains a wholly-owned subsidiary of Tata Steel.

Tata Steel acquires about 116 cr equity shares in Singapore-based arm for USD 182 mn
Tata Steel Expands Holdings with USD 182 Million Acquisition of Singapore Subsidiary; Image | Pixabay

Tata Steel on Wednesday said it has acquired about 116 crore equity shares in its Singapore-based arm for USD 182 million.

"Tata Steel acquired 1,15,92,35,669 ordinary equity shares of face value USD 0.157 each aggregating to USD 182 million (Rs 1,528.24 crore) in T Steel Holdings Pte Ltd (TSHP)," the company said in an exchange filing.

Post this acquisition, TSHP will continue to be a wholly-owned subsidiary of the company, it added

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Written By: PTI
Updated: Wed, Aug 14, 2024
06:32 PM IST
New Delhi, PTI
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