Tata Steel acquires additional stake in Tata Steel Downstream Products
Capital MarketTata Steel has on 24 May 2022, acquired 3,55,871 equity shares of Rs 10/- each at a premium of Rs 130.50 per share, of Tata Steel Downstream Products (TSDPL), a wholly owned subsidiary of the Company, for an amount aggregating to Rs 5 crore, for a cash consideration.
These funds will be utilized by TSDPL for further investment in Tata steel Advanced Materials, a wholly owned subsidiary of the Company, for business synergy and for other general corporate purpose
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