Tata Steel acquires 1.55 cr equity shares of Tata Steel Advanced Materials

Tata Steel has on 16 March 2023, acquired 1,55,34,738 equity shares of Rs 10/- each at an issue price of Rs 12.81 per share (including a premium of Rs 2.81 per share), of Tata Steel Advanced Materials (TSAML), a wholly owned subsidiary of the Company, for an amount aggregating to approximately Rs 19.90 crore (hereinafter referred to as the 'Transaction'). On completion of the above acquisition, TSAML will continue to be a wholly owned subsidiary of Tata Steel.

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